Bantleon acquires majority stake in a convertible bond specialist

The asset manager Bantleon is further strengthening its bond management and is acquiring Credit Suisse’s, respectively UBS’s, 62% stake in Credit Suisse Investment Partners AG. The long-established minority shareholders remain on board and retain their 38% stake. A corresponding agreement was signed in Zurich on 30 May 2024. Going forward, the company will operate under the name Bantleon Convertible Experts AG. Credit Suisse Investment Partners manages around EUR 1 billion in four mutual funds and in segregated accounts. As a result of the acquisition, which is subject to regulatory approval, Bantleon’s assets under management will grow to around EUR 25 billion (CHF 24 billion) and the assets under administration to around EUR 39 billion (CHF 38 billion).

Excellent expertise in the management of convertible bonds

»Credit Suisse Investment Partners is probably one of the best managers for convertibles bonds in Europe in the conservative segment. This gives our clients maximum expertise at the right time. Now that interest rates are back and the equity market environment is positive, convertible bonds are highly attractive,« explains Stephan Kuhnke, CEO and Head of Asset Management at Bantleon AG. »I am glad that Stefan Hiestand as new Chairman of the Supervisory Board, Oliver Gasser as CEO and Dominic Züfle as COO will remain on board – as will the portfolio management team, which has built up an excellent track record in the management of convertible bonds over the past few years.« The flagship fund CSIP (Lux) Global Investment Grade Convertible Bond Fund has a 5-star rating from Morningstar and was recently recognised as the best fund in its category in Europe and Switzerland in a 3-year comparison at the Lipper Fund Awards. »This underlines our ambition to be the leading bond manager in the German-speaking region,« Kuhnke emphasises.  

»We expect significant growth in the coming years and Bantleon, with its many years of expertise in bond management, is the ideal partner for us,« explains Stefan Hiestand. »The entrepreneurial culture of both companies is a perfect match as well.« And Oliver Gasser adds: »We are looking forward to combining our successful portfolio management expertise with Bantleon’s highly focussed relationship management.«

More than 15 years of experience as a convertible bond specialist

Credit Suisse Investment Partners was founded in 2007 by Stefan Hiestand under the name AgaNola AG as a convertible bond specialist. In March 2020, AgaNola and Credit Suisse Asset Management (CSAM) deepened their partnership in convertible bonds through a business combination under which CSAM obtained a majority stake. The team consists of five specialists who have been with the company for an average of seven years and have more than 14 years of experience in asset management. These include the two lead portfolio managers Rossitza Haritova and Lukas Buxtorf, who are ranked among Europe’s best portfolio managers for convertible bonds by Citywire.

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