Investment Banking

SoftBank pulls $700m from Credit Suisse fund

Withdrawal comes as Credit Suisse concludes probe into Greensill funds

SoftBank Group has pulled about $700m out of a Credit Suisse fund following the Swiss bank’s internal review into the Japanese conglomerate’s role, according to people familiar with the matter.

The Credit Suisse probe began last month after bank executives learned SoftBank played several roles in funds that invest in assets sourced from Greensill Capital, a UK-based finance firm. As well as investing in one of the funds, SoftBank also holds a stake in Greensill. The fund in which SoftBank invested also provided financing to several other companies that SoftBank has invested in.

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