Credit Suisse sells stake in EIP venture to management – Reuters

ZURICH, Oct 21 (Reuters) – Credit Suisse (CSGN.S) has sold its 30% stake in Energy Infrastructure Partners to EIP’s managing partners, EIP said on Friday without giving any financial details.

Energy Infrastructure Partners is a Swiss-based manager of large-scale renewables and energy assets. It said Credit Suisse will remain an important partner through vehicles serving Swiss pension funds.

The deal comes as the Swiss lender races to firm up asset sales that could limit the cash it needs from investors with just days to go before the bank unveils an overhaul.

Credit Suisse earlier placed an 8.6% stake in Allfunds Group (ALLFG.AS) via an accelerated bookbuilding offering that raised 334 million euros ($326.2 million).

Reporting by Michael Shields; Editing by Kirsten Donovan

Our Standards: The Thomson Reuters Trust Principles.

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