Credit Suisse Asset Management Announces Final Close of ILS P&C Fund

NEW YORK, Nov. 12, 2014 /PRNewswire/ -- Credit Suisse Asset Management (CSAM) announced today that it closed its ILS Property & Casualty Fund ("the P&C Fund") on September 30, 2014 with a total of $576 million in capital commitments from a diverse mix of institutional investors. The P&C Fund includes investors from the US and Europe consisting of public and corporate pension funds, insurance companies, funds of funds, asset managers, endowments, foundations and family offices.

CSAM's P&C Fund complements Credit Suisse's global Insurance Linked Strategies ("ILS") business. Credit Suisse is a leader in insurance linked strategies with more than $6.5 billion in assets under management. Insurance strategies have historically offered relatively low correlation to financial markets, a characteristic increasingly sought by institutional investors.

The P&C Fund broadens CSAM's insurance product offering with a strategy that focuses on the purchase of discontinued lines of property and casualty insurance business ("run-off") that have outstanding claims liabilities. Brad Huntington and John Williams, the Principals of ILS Investment Management, the sub-advisor to the P&C Fund, collectively have over 50 years of experience in the insurance sector and have managed P&C run-off portfolios globally both in fund and corporate formats.

About Credit Suisse Asset Management

Credit Suisse Asset Management offers products across a broad spectrum of investment classes, including hedge funds, credit, index, real estate, commodities and private equity products, as well as multi-asset class solutions, which include equities and fixed income products. Credit Suisse Asset Management manages portfolios, mutual funds and other investment vehicles for a broad spectrum of clients ranging from governments, institutions and corporations to private individuals. With offices focused on asset management in 19 countries, Credit Suisse Asset Management is operated as a globally integrated network to deliver the bank's best investment ideas and capabilities to clients around the world.

This information does not constitute an offer to sell securities or a solicitation of an offer to buy securities in any jurisdiction and is a matter of record only.

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SOURCE Credit Suisse

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