Asset Management

Credit Suisse reviews funds connected to SoftBank-backed firm

The four funds have about $7.5bn in assets under management, down from more than $9bn at the end of last year

Credit Suisse reviews funds connected to SoftBank-backed firm
Photo: Getty Images

Credit Suisse Group has launched an internal review into funds it manages that have invested in billions of dollars worth of securities sold by a SoftBank Group-backed firm, the bank said.

The four funds invest primarily in securities seeded by Greensill Capital, a firm that has become a high-profile name in financing global trade. Founded in 2011 by former Citigroup banker Lex Greensill, it provides short-term funding to corporate clients to pay invoices from their suppliers, also known as supply-chain financing.

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