Credit Suisse Asset Management Closes $1.67 Billion Private Credit Opportunities Fund, First Direct Lending-Focused Fund
14th July 2022 | Hong Kong
Credit Suisse Asset Management has closed its Private Credit Opportunities Fund with $1.67 billion in capital commitments. The Credit Suisse Private Credit Opportunities Fund is its first direct lending-focused fund under the Credit Investments Group (CIG). Private Credit Opportunities Fund seeks to generate attractive risk-adjusted returns primarily by providing private debt financings across the capital structure including secured first and second lien loans, unitranche financings, and preferred equity made directly to upper middle market companies in North America and Europe. To date, PCO has deployed approximately half of the Fund which will have in excess of USD 3 billion of deployable capital including leverage. John G. Popp, Global Head & Chief Investment Officer of Credit Suisse Asset Management’s Credit Investments Group: “We are pleased to close our first direct lending fund launched to take advantage of the convergence between the syndicated and private credit markets. The investor demand we have seen validates CIG’s position as an experienced investor of choice in the non-investment grade credit markets while our ability to deploy significant capital speaks to the breadth and depth of Credit Suisse’s unrivalled leveraged finance and financial sponsors franchises.”
“ Credit Suisse Asset Management Closes $1.67 Billion Private Credit Opportunities Fund, First Direct Lending-Focused Fund “
Credit Suisse Private Credit Opportunities Fund
Private Credit Opportunities Fund is managed by a dedicated private credit team within Credit Suisse Asset Management’s Credit Investment Group. CIG is one of the largest and most experienced providers of leveraged finance solutions in the industry, managing approximately USD 65 billion in primarily non-investment grade credit assets. For more than 20 years through various market cycles, CIG has maintained a disciplined approach and demonstrated leading experience in sourcing and servicing credit relationships. Private credit is a natural extension of CIG’s business as a leading provider of capital solutions to non-investment grade companies in North America and Europe issuing in the broadly syndicated market.
Credit Suisse
Credit Suisse is one of the world’s leading financial services providers. Our strategy builds on Credit Suisse’s core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 51,030 people. The registered shares (CSGN) of Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
Credit Suisse Asset Management
The Asset Management division of Credit Suisse offers investment solutions and services globally to a broad range of clients, including pension funds, governments, foundations and endowments, corporations and individuals. Backed by the Group’s global presence, Asset Management offers active and passive solutions in traditional investments as well as alternative investments. As of March 31, 2022, the division managed assets of over CHF 462 billion worldwide.
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