Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

Credit Suisse teams up with Qatar fund on multi-billion credit business

Published 09/17/2020, 07:18 AM
Updated 09/17/2020, 07:20 AM
© Reuters. Logo of Swiss bank Credit Suisse is seen in Basel

DUBAI (Reuters) - Swiss bank Credit Suisse (S:CSGN) and the Qatar Investment Authority (QIA) said on Thursday they were jointly setting up a multi-billion dollar direct private credit business.

QIA, which is Qatar's sovereign wealth fund and has a 5.4% stake in Credit Suisse, manages about $300 billion in assets.

Credit Suisse and QIA said in a joint statement that the platform, part of Credit Suisse Asset Management’s Credit Investments Group (CIG), would provide financing mostly through secured first and second-lien loans to upper middle market and larger companies in the United States and Europe.

A first lien ranks highest for payment when a borrower defaults and the property or asset was used as collateral.

CIG has $60 billion in non-investment grade credit positions, the statement added.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.