SoftBank Group Corp. was stressed. – the start-up of Greensill Capital after another asset manager, GAM Holding AG, merged an investment fund with the secured finance company.
Switzerland’s GAM said it had prevented investors from trading in and out of the fund “as a result of recent market developments” and related media coverage. They plan to close the fund and return the money to investors.
The fund has five institutional investors, said one familiar with the case. A Greensill spokesman did not immediately respond to a request for comment.
Greensill came under pressure Monday after Credit Suisse Group AG withdrew $ 10 billion in investment funds containing securities created by the start-up business.
The Wall Street Journal reported that Greensill had hired restructuring advisers and could file for bankruptcy, which equated to a UK bankruptcy, within days, a move prompted by the closure of the UK. money.