The Qatar Investment Authority has entered into a strategic alliance with Credit Suisse Asset Management in an effort to break into the direct lending market.
The two will work together on building a multibillion-dollar credit platform to provide secured first and second lien loans to upper middle market companies in the US and Europe
The platform is part of Credit Suisse Asset Management’s Credit Investments Group (CIG), which is led by Global Head and Chief Investment Officer, John Popp.
It is not the first time that the QIA and Credit Suisse have worked together. The sovereign wealth fund bought a stake in the Swiss bank back in 2008 which it then increased to 5.21% ten years later in August 2018.
“We see significant potential in the growing private credit market and we are excited to once again work with Credit Suisse,” said Mansoor Al Mahmoud, chief executive at the QIA.
“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.”
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