Qatari Royal Among Investors in Credit Suisse’s Greensill Funds - Bloomberg
Qatar’s former prime minister is one of the wealthy Middle Eastern investors exposed to Credit Suisse Group AG’s troubled supply-chain finance funds, according to people familiar with the matter.
Vehicles linked to Sheikh Hamad bin Jassim Al Thani invested approximately $200 million in the funds that bought loans from Greensill Capital, the financial firm that collapsed in early March, said the people, asking not to be named because they are not authorized to speak on the matter.
It’s unclear how much Sheikh Hamad, also the former head of Qatar’s sovereign wealth fund, stands to lose, and the preliminary estimates of his exposure could change. Representatives for Credit Suisse and Sheikh Hamad declined to comment.
The bank is in a tough spot as it’s seeking to retain the relationship with wealthy clients while leaning toward letting investors foot the bill if it can’t recover the full amount of the loans held in the Greensill-linked funds. Out of $10 billion managed by the funds, Credit Suisse had sold more than $1 billion through its private banking arm in the Middle East, Bloomberg reported earlier.
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