 Avista's spinoff from Credit Suisse was at the same time as private equity groups from other leading investment banks were formed including JPMorgan Chase's CCMP Capital, Citigroup's Court Square Capital Partners, Deutsche Bank's MidOcean Partners, and Morgan Stanley's Metalmark Capital.In 2007, the firm closed its first fund at $2 billion.This included a commitment from predecessor Credit Suisse, whereas fellow spin-off Diamond Castle did not.