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Credit Suisse to shutter suspended funds with $10bn exposure to Greensill

The four Greensill-linked funds were suspended on 1 March amid uncertainties about their valuations

Credit Suisse Group knew since 2019 that supply-chain finance funds it ran with Greensill Capital were too reliant on a small group of insurers to protect investors against default
Credit Suisse Group knew since 2019 that supply-chain finance funds it ran with Greensill Capital were too reliant on a small group of insurers to protect investors against default Photo: Getty Images

Credit Suisse Asset Management has said it will terminate four funds valued at $10bn which it suspended on 1 March over uncertainty over their valuation.

The four funds invested in assets created by supply chain financing firm Greensill Capital. The four funds were suspended on 1 March after Credit Suisse became concerned that the funds were over-exposed to one of Greensill’s clients — steel magnate Sanjeev Gupta.

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