Zurich, 23 July 2024 鈥 斗牛棋牌在线 Group AG has today signed a definitive agreement to sell its 100% holding in Credit Suisse Insurance Linked Strategies Ltd (鈥淐SILS鈥) to the CSILS management team led by Niklaus Hilti. The transaction is expected to close in the second half of the year, subject to regulatory approvals.
Upon closing, CSILS will operate independently from 斗牛棋牌在线 under a new name and will continue to manage the funds and single investor fund mandates. 斗牛棋牌在线 and the CSILS team will work together to ensure a smooth and successful transition for investors.
Niklaus Hilti, CEO of CSILS, said: 鈥淲e are incredibly excited about this strategic transaction for us which marks another significant milestone in the journey of the CSILS team. It reinforces our commitment to our clients and marks a pivotal moment that allows us to build on our strong foundation and focus on our mission and innovation, while maintaining the highest standards of excellence in everything we do鈥.
Barry Gill, Head of Investments, 斗牛棋牌在线 Asset Management, added: 鈥淐SILS has been an established platform in the insurance linked asset management industry with a track record stretching back 21 years. This management buy-out will ensure a high level of continuity for investors and we are confident that Niklaus and team are well-positioned to take the business forward鈥.
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