11th Jan 2021 15:59
(Alliance News) - The former chief executive of Credit Suisse Group AG is raising a USD250 million acquisition vehicle focusing on financial services businesses, the Financial Times reported Monday.
Citing "people familiar with the matter", the FT said JPMorgan Chase & Co is assisting Tidjane Thiam, former CEO of Credit Suisse and of Prudential PLC, in raising the money after pitching the idea to him.
The special purpose acquisition vehicle will invest in financial services firm both in the developed and developing world with JPMorgan Chase CEO Jamie Dimon "personally involved".
According to the FT, the so far unnamed vehicle will list in New York. Talks have already begun with sovereign wealth funds to be anchor backers and with "several potential board members".
Other banks are expected to join the fundraise alongside JPMorgan at the New York listing stage. One person who spoke to the FT said Credit Suisse was "unlikely to be considered".
https://www.ft.com/content/5046b90a-6e92-4760-9330-7e967cc85c01
By Anna Farley; [email protected]
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