Bloomberg – Credit Suisse Group AG, Switzerland’s biggest bank by market value, plans to spin off two credit hedge funds by the end of September, said two people briefed on the matter.
Candlewood Special Situations, a fund overseen by Michael Lau, and Candlewood Credit Value, managed by Don Pollard, specialize in distressed corporate debt. The funds will get investments from Zurich-based Credit Suisse, according to the people, who asked not to be named because the information is private.
