SoftBank has pulled a more than $500 million investment from Credit Suisse's supply chain finance funds after the Swiss bank reviewed the funds including the Japanese conglomerate's role, according to two sources.
) supply chain finance funds after the Swiss bank reviewed the funds including the Japanese conglomerate’s role, according to two sources.
Some of the funds’ investments were in notes backed by loans Greensill made to other companies backed by SoftBank’s Vision Fund. A source with direct knowledge of the matter confirmed that the investor which had terminated the agreement was SoftBank, and that the Japanese group had pulled its full investment from the funds.
Credit Suisse said that while in practice all the funds’ investments had previously been sourced via Greensill, they were not precluded from sourcing them elsewhere.
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