This was announced by EIP on Friday evening. The EIP doesn’t write how much money the big bank will make from the sale. A CS spokesperson also did not provide any figures on request. However, even after the sale, Credit Suisse will remain an important partner in the distribution and management of client assets for the Swiss market, EIP assured.
EIP is an infrastructure investor focused on the energy transition sector and, according to its knowledge, manages more than five billion francs specifically for Swiss pension funds. The company was established in 2014 as a joint venture between the managing partners and CS.
According to the press release, consolidation in the shareholder base strengthens EIP’s independence. Among other things, the company sells tailor-made investment solutions to Swiss pension funds and is also constantly expanding its product range for its clients worldwide. EIP has been certified as a provider in Luxembourg since this year.
Recently, sick Credit Suisse sold its 8.6% stake in the Allfunds funding platform for 334 million euros. The sale of the Hotel Savoy in Zurich is also planned. Money from sales should benefit him in planned, strategic restructuring. The bank wants to inform the public about this next Thursday.
However, the sale of EIP stock is no surprise. Credit Suisse Asset Management had already indicated at its November 2021 investor meeting that it would divest investments that are part of its core business. EIP could be one of these entities. At the time, Ulrich Körner, today’s group CEO, was in charge of asset management.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
