DOHA/NEW YORK: Qatar Investment Authority (QIA) will partner with Credit Suisse Asset Management to form a multibillion dollar direct private credit platform that will provide financing primarily in the form of secured first and second lien loans to upper middle-market and larger companies in the US and Europe.
The platform is part of Credit Suisse Asset Management’s Credit Investments Group (CIG). CIG has $60 billion in non-investment grade credit positions, a joint statement said.
QIA CEO Mansoor Al Mahmoud said: “We see significant potential in the growing private credit market and we are excited to once again work with Credit Suisse.:
He stated: “This strategic partnership, with one of the foremost leaders in asset management, is aligned with QIA’s objectives as a long-term diversified investor across asset classes both in the US and globally.”
Unique opportunities
Eric Varvel, Global Head of Asset Management and Chairman of the Investment Bank at Credit Suisse, said: “We believe this strategic partnership with QIA presents unique opportunities for borrowers seeking credit solutions to partner with our asset management and investment bank franchises.”
He added: “The Credit Investments Group, within Credit Suisse Asset Management, has extensive industry and lending relationships that, when combined with Credit Suisse’s unmatched leveraged finance and financial sponsors franchises, uniquely positions us to provide capital and liquidity to the private credit market.”