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Credit Suisse Suspends $10bn Greensill-linked Funds

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Credit Suisse has frozen $10bn funds linked to Greensill Capital, adding to pressure on the controversial finance company, which is backed by SoftBank and advised by former UK prime minister David Cameron. The Swiss bank’s asset management division announced on Monday that it had suspended its supply-chain finance funds, which source all of their investments from Greensill, a London-based group that is one of the biggest lenders to metals magnate Sanjeev Gupta. Credit Suisse said it had “suspended the redemptions and subscriptions” in these investment vehicles “to protect the interests of all investors”.

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