Credit Suisse completes transfer of distribution agreements related to Credit Suisse InvestLab to Allfunds
Credit Suisse has successfully closed the final step of the combination of its open architecture B2B investment fund platform Credit Suisse InvestLab AG with Allfunds Group.
Credit Suisse has announced the closing of the transfer of distribution agreements related to its third party investment fund platform Credit Suisse InvestLab to Allfunds.
Following the completion of the first step of the combination of Credit Suisse InvestLab AG and Allfunds Group on September 6, 2019, Credit Suisse has successfully completed the transfer of related distribution agreements to Allfunds Group. Upon completion of this second and final step, Credit Suisse has become an 18% shareholder in the combined business and will be represented at the board.
Credit Suisse International acted as financial advisor to Credit Suisse in connection with the transaction.
Back in June 2019, Credit Suisse said that the agreement will create a global fund distribution platform with combined assets under administration (AuA) of more than CHF 570 billion and distinct distribution competences. The combined business leverages the global wealth management footprint of Credit Suisse and the technological innovation of Allfunds, further enhancing the service offering to asset managers and distributors worldwide.
Going forward, Credit Suisse will utilize the combined business platform to distribute mutual funds and ETFs.
