Credit Suisse, USS team up on senior debt

The investment bank and pension fund have joined forces for a senior financing initiative focused on the European mid-market.

Investment bank Credit Suisse and the Universities Superannuation Scheme (USS) pension fund have formed an agreement to provide senior debt finance to private equity and asset management firms to fund their investments in senior loans to medium-sized companies in Europe.

The partnership has been seeded with a $3.1 billion portfolio of outstanding loans to specialist direct lending funds originated by Credit Suisse from the middle of 2014 to the end of 2015.