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Credit Suisse to set up BDC

18Credit Suisse Group is launching a specialty finance company to invest in the unrated debt of small or midsize U.S. companies. According to news reports in the US, the company, Credit Suisse Park View BDC, will be a business development company. It aims to raise $500 million by selling shares at $10.14 each. The business development company will operate as part of the bank’s asset management unit, Credit Suisse Asset Management, whose Credit Investment Group oversees $36 billion in assets. The asset manager will earn fees for managing the BDC.

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