Credit Suisse Asset Management’s Credit Investments Group (“CIG”) announced the final close of its Private Credit Opportunities Fund (PCO), CIG’s first direct lending-focused fund, with USD 1.67 billion in capital commitments.
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PCO 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 and Chief Investment Officer of Credit Suisse Asset Management’s Credit Investments Group, said, “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 unrivaled leveraged finance and financial sponsors franchises.”
PCO 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.
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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.
Disclaimer
This document was produced by and the opinions expressed are those of Credit Suisse as of the date of writing and are subject to change. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of Credit Suisse to any person to buy or sell any security. Any reference to past performance is not necessarily a guide to the future. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but Credit Suisse does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.
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