Credit Suisse secures further $200m from collapsed Greensill funds

Credit Suisse has freed up an additional $200m to return to clients of two Greensill supply chain funds. Four funds in total worth $10bn, managed by Credit Suisse Asset Management for Greensill, have been blocked since Greensill collapsed in March 2021.

Credit Suisse had previously recovered $7.2bn for investors, with the other two funds repaid in full.

The additional liquidated assets will see $118m returned to clients of the Luxembourg-based Supply Chain Finance High Income Fund and $82m returned to clients of the Supply Chain Finance Fund this week.

Credit Suisse said it will seek further instalments from liquidated funds. It also seeks recovery of losses from Greensill’s insurance policies, although insurers dispute the validity of the claims.

UBS has since mounted a rescue takeover of Credit Suisse following the fallout from the collapse of Silicon Valley Bank in the US.