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Credit Suisse Asset Management’s Credit Investments Group Closes Private Credit Opportunities Fund at USD 1.67 billion
Credit Suisse Asset Management’s Credit Investments Group (“CIG”) today 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.
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.