Credit Suisse in New Brazil Asset Management Company

Cleary Gottlieb advised Credit Suisse Group AG in connection with its investment in a new Brazilian asset management company set up by well-known Brazilian fund manager Luis Stuhlberger. The transaction signed on April 9, 2014 and the new company, to be named Verde Asset Management, is expected to commence operations in January. Verde will manage several funds in Brazil and offshore with about 30 billion reais ($13.6 billion) in assets under management.

Credit Suisse’s relationship with Stuhlberger dates to 2006 when the Swiss bank purchased 51% of Stuhlberger’s investment firm Hedging-Griffo. Stuhlberger then became the chief investment officer of Credit Suisse Hedging Griffo, the bank’s money management unit in Brazil.