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October 22, 2021updated 21 Jul 2022 7:30am

Credit Suisse, BlackRock introduce health and wellbeing PE fund

Credit Suisse and BlackRock have introduced a private equity impact fund that focuses on health and wellbeing.

The new strategy is designed to cover four sub-themes- physical health and wellbeing; mental health and development; financial health; and nutrition and resources.

The move comes when there has been a renewed focus on these themes following the pandemic.

They also align with specific United Nations Sustainable Development Goals (UN SDGs) that promote access, affordability, innovation and inclusion.

Notably, Credit Suisse and BlackRock have entered into a collaboration to develop purpose driven investments. The offerings will seek to provide attractive private equity returns aligned with the Credit Suisse Supertrends.

The health and wellbeing fund was the first in a series of investment initiatives.

Credit Suisse CEO of Sustainability, Research and Investment Products (SRI) Lydie Hudson said: “Credit Suisse and BlackRock have shown their mutual commitment to impact investing by providing innovative financial solutions to global societal issues.

“This joint private market investing programme leverages the scale, expertise and strength of both firms to deliver a strong investment experience and outcomes for clients. We are delighted to work with BlackRock, with its proven private equity expertise, to provide clients the opportunity to invest with purpose.”

Credit Suisse global chief investment officer Michael Strobaek said: “Our Supertrends spotlight the long-term investment opportunity in tackling the global demand for health and wellbeing.

“This intensifies our emphasis on helping investors prioritise sustainability in their portfolios. We need an ambitious response and through our collaboration with BlackRock, we believe we can make a meaningful impact towards improving the accessibility to many aspects of health and wellbeing at scale.”

Earlier this week, Credit Suisse said that it will pay around $475m to the US and the UK regulators to settle $2bn Mozambican corruption scandal.

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