SoftBank pulls $700mn from Credit Suisse fund

SoftBank pulls $700mn from Credit Suisse fund

SoftBank has pulled ~$700mn from a Credit Suisse fund Greensill after its executives were concerned about Japanese conglomerate held conflicting roles in the fund that weren’t fully disclosed to other investors. In nutshell, SoftBank was acting as both lender as well as the borrower in a complex circle of transactions. However Greensill relied on these funds for just around 20% of its business.

Milan
Milan
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