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Credit Suisse recovers more assets in suspended Greensill-linked funds

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Credit Suisse recovers more assets in suspended Greensill-linked funds
Credit Suisse recovers more assets in suspended Greensill-linked funds   -   Copyright  (c) Copyright Thomson Reuters 2021. Click For Restrictions - https://agency.reuters.com/en/copyright.html
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ZURICH (Reuters) – Credit Suisse has recovered more assets from its suspended Greensill-linked supply chain finance funds, it told investors on Tuesday.

“Together with the initial cash distribution and current cash and cash equivalents in the funds, the total cash position amounts to $5.9 billion as of May 14, 2021, which is more than half of the total (assets under management) of the four funds at the time of their suspension,” the bank’s asset management arm said in a statement to investors.

It expected to provide an update on the next payments in late May or early June, it said.

(Reporting by Brenna Hughes Neghaiwi; Editing by Michael Shields)

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