Credit Suisse First Boston wishes to get rid of its LBO unit, DLJ Merchant Banking Partners, although these plans may be adversely affected by the discord among management over the pay for the partners and management structure.

Some of the partners disapproved of the compensation structure outlined by Mr. Dean, head of the unit. CSFB also has plans for joint management of the three investment funds belonging to DLJ Merchant Banking. Besides, the partners have begun to seek investors for a new fund called DLJ Merchant Banking Partners IV.

CSFB President Brian Finn said the firm is trying to generate best possible value for investors: "We as a group have to jointly deliver to our investors continuity of management, and we’re going to do that. Our obligations to the limited partners rise above all else."

Mr. Dean said, "I continue to work with the firm to develop a structure that will allow for the assets of funds I, II and III to be managed in the best possible way for our limited partners."