Credit Suisse, QIA partner to enter direct lending sector

Thursday, 17. September 2020 13:56

Swiss investment bank Credit Suisse Group AG said on Thursday it entered a multi-billion dollar business by creating a direct private credit platform together with the Qatar Investment Authority (QIA). Qatar’s sovereign wealth fund already holds a 5.4% stake in Credit Suisse.

According to the global joint statement, the platform will provide financing to bigger companies in Europe and the United States, mainly in the form of secured first and second lien loans.

The CEO of QIA Mansoor Al Mahmoud stated that this "strategic partnership, with one of the foremost leaders in asset management, is aligned with QIA's objectives as a long-term diversified investor across asset classes both in the US and globally."

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Breaking the News / TF