Credit Suisse agrees to sell 67% stake in Credit Suisse Investment Partners to BANTLEON

Following the completed transaction, CSIP will operate as BANTLEON Convertible Experts and will maintain existing leadership.

Credit Suisse has signed an agreement to sell its majority stake in Credit Suisse Investment Partners (CSIP), owned by Credit Suisse Asset Management.

Credit Suisse currently holds a 67% stake in the business line.

CSIP segment manages funds and associated mandates – including convertible bond funds – with a total of CHF 1 billion in assets under management.

Following the closing of the transaction, CSIP will rebrand as BANTLEON Convertible Experts, while still servings its clients as a convertibles manager.

“The CSIP leadership and portfolio management teams fully support the transaction and will remain unchanged,” the firm said in a statement.

UBS Investment Bank served as exclusive financial advisor to Credit Suisse on the transaction. The sale is still subject to customary regulatory approvals.

Last month, the merger of UBS and Credit Suisse officially completed within the expected timeline.

Read more: UBS, Credit Suisse takeover is over the line

UBS confirmed its intention to take over Credit Suisse March last year with the deal subsequently reported to be worth more than $3.25 billion.