Bantleon acquires majority stake in Credit Suisse Investment Partners
Credit Suisse Investment Partners manages convertible bond funds with a volume of around CHF1 billion ($1.11 billion).
Keystone / Peter Klaunzer
The German-Swiss asset manager Bantleon is expanding its bond management. It is buying a 62% stake in Credit Suisse Investment Partners (CSIP) from Credit Suisse and UBS. A contract to this effect was signed in Zurich at the end of May.
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CSIP manages convertible bond funds with a volume of around CHF1 billion ($1.11 billion) in four mutual funds and one single-investor fund. In the future, the company will operate under the name Bantleon Convertible Experts AG, the parties announced in separate statements on Monday.
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According to Bantleon, the long-standing minority shareholders will remain on board with their 38% stake. Meanwhile, the 62% stake acquired from Credit Suisse is housed in the asset management subsidiary of what was Switzerland’s second-largest bank.
As a result of the takeover, which is still subject to approval by the Swiss Financial Market Supervisory Authority (FINMA), Bantleon’s managed assets will grow to around CHF24 billion and administered assets to around CHF38 billion.
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