Credit Suisse Group has raised bank promotionals to new heights. Apparently not satisfied with giving away the likes of clocks and other appliances to new customers, the bank is offering New Jersey’s pension fund the opportunity to acquire a partnership stake in Warburg Pincus VIII – if the pension fund invests in CS’ DLJ Merchant Banking Partners IV. According to The Daily Deal, Credit Suisse’s not-so-cheesy offer has been used before to lure investors into plunking some shekels into its DLJ vehicle. The Deal theorizes that Credit Suisse has resorted to “such an unorthodox marketing move” after some its big private equity clients vehemently complained that the Donaldson Lufkin & Jenrette unit was competing against them, and so it promised to change its practices. CS not only has turned to this unusual way of bringing in business, but also has to deal with the departure two years ago of some of its top buyout execs, especially DLJ’s Lawrence Schloss, who took a group with him to open Diamond Castle Holdings, and Thompson Dean, who left last year to form Avista Capital Partners. According to the Deal, citing p.e. pros, it is unheard of for a private equity fund to offer a partnership stake in a fund it doesn’t manage – a move that some say could bite CS back, as investors may start thinking the bank is having difficulty raising money. By the way, William Clark, director of the New Jersey Department of Treasury’s investment division, says he supports the offer.