Credit Suisse Backer #Qatar Investment Authority Raises Stake - Bloomberg

Credit Suisse Backer Qatar Investment Authority Raises Stake - Bloomberg

The Qatar Investment Authority boosted its stake in Credit Suisse Group AG to 6.87%, according to a filing from the sovereign wealth fund.

With the purchase, QIA becomes the Swiss bank’s second largest shareholder — just behind the Saudi National Bank — after Credit Suisse issued new shares as part of a 4 billion Swiss franc ($4.3 billion) capital raise it completed in December.

Earlier this month, the Swiss lender’s longtime largest shareholder Harris Associates, which once held a stake of about 10%, reported a holding of below 3%.

The Saudi National Bank, 37% owned by the nation’s sovereign wealth fund, was an anchor investor in Credit Suisse’s capital raise and now holds a near 10% stake in the firm, making it the top shareholder.