Credit Suisse Suspends Supply Chain Finance Funds Over Valuation
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Credit Suisse Group AG suspended redemptions from and subscriptions to a group of supply chain finance funds that invests in products sourced by financier Lex Greensill, citing “considerable uncertainties” over the valuation of some of the funds’ assets.
The suspension is effective March 1, the Swiss bank said in a statement. Credit Suisse is looking at ways to reduce ties to Greensill Capital amid concerns about the size of its exposure to firms linked to U.K. industrialist Sanjeev Gupta, people familiar with the matter said earlier Monday.