Challenger takes Credit Suisse Investments
Challenger Financial Services has acquired Credit Suisse Investments (Australia) Limited inclusive of five credit investment funds and two real estate securities funds.
The acquisition has been confirmed by Challenger chief executive of funds management, Rob Adams, who said the credit investment business had total funds under management of approximately $1.5 billion which would be used to create a new boutique investment management firm led by Credit Suisse’s current director and lead portfolio manager, Richard Quin.
Adams said the acquisition expands Challenger’s exposure to quality funds management capabilities across the credit investment sector and provided additional scale to the company’s real estate securities business.
AUTHOR
Mike Taylor
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