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Credit Suisse launches Mexico Credit Opportunities Trust

Fri, 02/11/2012 - 14:08

Credit Suisse has launched the Credit Suisse Mexico Credit Opportunities Trust. A closed-end structured credit trust, the Trust issued the peso equivalent of USD420 million in equity securities, known as Certificados de Capital de Desarrollo or "CKD's", listed on the Mexican stock exchange.

The holders of interests in the Trust include some of Mexico's largest pension funds as well as other institutional investors.

The Trust will seek to capture opportunities presented by structural inefficiencies in the Mexican credit market through investments in a diversified portfolio of alternative assets with debt-like characteristics, and is the largest listed trust of its type in Mexico. Mexico continues to experience solid economic growth and a stable macro-economic environment, and is an important market for Credit Suisse with its established local Investment Banking division and growing Private Banking presence.

Bob Jain, Head of Alternative Investments in the Asset Management division, says: "This is our first dedicated product launch of its type for Credit Suisse in Mexico and demonstrates our continued efforts to combine strong product development and risk management expertise with investment leaders in emerging markets for our clients. This new Trust builds on the global Emerging Markets credit capabilities developed for similar products such as EMCO and the Brazil Credit Fund and is a reflection of Credit Suisse's commitment to the Emerging markets franchise."

The Trust will be managed by a team based in Mexico and New York led by Andres Borrego, who was previously in the Investment Bank's Emerging Markets Group. He will be joined by Manuel Ramos, formerly Head Risk Manager/Trader for the LatAm Financing Group, also in the Investment Banking division.


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