Ex-Credit Suisse staff start Asia-Pac credit fund to fill lending gap

Melbourne

A GROUP of former Credit Suisse Group AG staff, led by Australian investment banker John Wylie, has started an Asia-Pacific credit investment fund to take advantage of banks reining in lending.

Tanarra Credit Partners has raised more than A$285 million (S$293 million) for its Asia-Pacific Fund I, which will invest in senior and mezzanine debt, and is targeting as much as A$500 million before closing the fund to investors in the first half of 2018, managing partner Michael Tierney said.

The commitments include a cornerstone investment from A$60 billion pension fund UniSuper Management Pty for a managed account which will focus on sub-investment grade secured loan opportunities in Australia and New Zealan…