With an investment volume of around CHF 165 million, Credit Suisse and Patrimonium were able to successfully conclude the first sub-fund (Private Credit Co-Investor Fund I). Well-known pension funds, insurance companies, and family offices were acquired as investors for this sub-fund. As of late 2018, investment in the fund has already reached 40% of the subscribed volume.
The Private Credit Co-Investor Fund I is geared towards institutional investors and participates in firstclass corporate loans from Credit Suisse. These are selected for the sub-fund by independent asset manager Patrimonium, with a substantial part of the loans remaining at Credit Suisse. This provides investors with an investment opportunity in an asset class that is otherwise difficult to access, and in doing so, the interests of investors and Credit Suisse are aligned due to the co-investment. The annualized net target return sought in Swiss francs after deducting costs (TER) is CHF LIBOR plus 3.50 to 4.00 percent. The fund therefore offers institutional investors an attractive risk/return profile compared to other investments.
Credit Suisse and Patrimonium are planning the launch of the second sub-fund for the second quarter of 2019.