QIA, Credit Suisse form multibillion dollar direct private credit platform
QATAR Investment Authority (QIA) and Credit Suisse Asset Management on Thursday entered into a strategic partnership in the direct lending market. They will form a multibillion dollar direct private credit platform that will provide financing primarily in the form of secured first and second line loans to upper middlemarket and larger companies in the US and Europe. Mansoor Al Mahmoud, CEO of QIA, said, “We see significant potential in the growing private credit market and we are excited to once again work with Credit Suisse. 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.”
QATAR Investment Authority and Credit Suisse Asset Management on Thursday announced that they have entered into a strategic partnership to form a multibillion dollar direct private credit platform.
The platform 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), which is led by Global Head and Chief Investment
Officer, John Popp.
The CIG team is one of the largest and most experienced providers of leveraged finance solutions in the industry, with approximately $60 billion in non-investment grade credit positions. 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.
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. The 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.”
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.
“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.”
Popp said, “This private credit platform is a natural extension of our business as a leading provider of capital solutions to non-investment grade companies in the US and Western Europe. The current market environment presents an ideal entry point into the private credit space, with capital and liquidity now at a premium.”
QIA is among the largest and most active sovereign wealth funds globally.
QIA invests across a wide range of asset classes and regions as well as in partnership with leading institutions around the world to build a global and diversified investment portfolio with a longterm perspective that can deliver sustainable returns.