Qatar Investment Authority, Doha, agreed to form a multibillion-dollar direct lending platform with Credit Suisse Asset Management, according to a news release Thursday.
The platform, headed by John Popp, global head and CIO of the credit investments group within Credit Suisse Asset Management, will provide secured first- and second-lien loans to upper middle-market and larger companies in the U.S. and Europe.
"We see significant potential in the growing private credit market and we are excited to work with Credit Suisse," Mansoor Al Mahmoud, CEO of QIA, said in the release. "This strategic partnership, with one of the foremost leaders in asset management, is aligned with QIA's objectives as a long-term diversified investor across asset classes both in the U.S. and globally," he added.
Qatar's sovereign wealth fund has $295 billion in assets and is a significant shareholder in Credit Suisse, which it owns through Qatar Holding LLC.