Credit Suisse said yesterday it is winding down its $10bn supply chain finance funds, which were mostly invested in notes backed by speciality finance firm Greensill. London-based Greensill group is preparing to file for insolvency and is in talks to sell parts of its business to US private equity firm Apollo Global Management Inc, sources close to the matter said, after the loss of backing from asset managers Credit Suisse and GAM. Greensill declined to comment on the insolvency preparations or the Credit Suisse move. Apollo also declined to comment. “The fund boards have now decided to terminate the funds. Credit Suisse Asset Management’s priority is to ensure a balance between a timely l
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