A Credit Suisse branch in Murten, Switzerland.
Photo:
Stefan Wermuth/Bloomberg News
Group AG said it suspended a group of private investment funds tied to supply-chain finance assets created by
SoftBank Group Corp.
-backed specialty-finance company Greensill Capital.
The Swiss bank’s asset-management arm said it would stop allowing investors to buy into or sell out of the funds immediately. Credit Suisse manages four private investment funds that contain around $10 billion in securities created by Greensill.
The bank said a part of the funds is “currently subject to considerable uncertainties with respect to their accurate valuation.” The Wall Street Journal reported Sunday that the bank was concerned about Greensill’s exposure to a single client, U.K.-based steel magnate
Sanjeev Gupta,
according to people familiar with the matter.
Write to Julie Steinberg at julie.steinberg@wsj.com and Duncan Mavin at duncan.mavin@wsj.com
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