Credit Suisse Group AG recently has begun the process to sell its U.S. operations of Credit Suisse Asset Management (CSAM).
According to sources familiar with the matter, the asset management business, which includes a platform for investing in collateralized loan obligations (CLOs), is expected to draw interest from private equity firms. According to a company statement, globally, Credit Suisse's asset management business managed $429 billion in assets by the end of the second quarter.
A final decision has not been reached on pursuing a sale, and Credit Suisse could opt to hold onto the unit, according to AdvisorHub. Additionally, Credit Suisse is in the process of selling its securitized products group.
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