Winnersrationale

The falling fixed-income and equity markets in 2022 made investors rush to seek shelter in the private market universe.

Credit Suisse Asset Management’s Credit Investments Group (CIG) launched its Edition CLO Opportunity Fund in 2019 (Edition I) and 2021 (Edition II). CIG’s first and second collateralised loan obligation (CLO) equity focused fund both captured strong client demand in Asia.

The funds aim to generate current income and, to a lesser extent, long-term capital appreciation primarily by investing globally in CLO equity securities.

CIG’s CLO investment portfolios are constructed on an asset-by-asset (CLO-by-CLO) basis, with the portfolio manager selecting portfolio constituents based on the structured credit committee’s investment decisions.

From 2019 to 2021, the two funds were at first distributed in China onshore, by the private bank department of Credit Suisse to the HNW and UHNW clients of a top commercial bank through the Qualified Domestic Limited Partnership (QDLP) scheme. The total funds raised by the top private bank for Edition I and II is of top-tier ranking amongst all strategies distributed to the China onshore market through the QDLP scheme.

The fund is currently on multiple private banks platforms in Asia with over US$130 million called in the first nine months of 2022.

As of July end of 2022, Edition I’s reported fund net IRR was 17.3 % (unaudited) with the outstanding current quarterly distribution. Edition II was only established in 4Q21 and is still in the early stage of fundraising. Still, Credit Suisse has seen a positive performance of both Edition I and II.

For these reasons, Credit Suisse Asset Management wins Best Fund Provider – Private Markets in Asian Private Banker’s 2023 Asset Management Awards for Excellence.