Infotech

Credit Suisse liquidates its fintech funds Greensill



The ax has fallen. Three days after freezing its funds exposed to fintech Greensill, Credit Suisse Asset Management announced their liquidation on Friday. The 1,000 or so investors who subscribed to it will begin to be reimbursed. The latter should receive next week 80% of the 3.7 billion dollars quickly mobilized held by the funds. An amount made up of cash and easily transferable assets.

On the other hand, there is uncertainty over the refund of the balance. ” The priority of Credit Suisse Asset Management is to ensure a balance between timely liquidation of funds and maximizing value for investors The bank said in a statement. The total assets of the four funds concerned, at the time of their freezing, amounted to 10 billion dollars. It is not certain at this stage that investors will have to bear losses. Another Swiss asset management company, GAM, will also reimburse investors in its fintech-exposed funds founded by Australian Lex Greensill. But the valuation of assets will be particularly difficult.

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