UBS, Apollo to End Deals Managing Former Credit Suisse Unit
Provided by
Dow Jones
By Adria Calatayud
UBS Group and Apollo Global Management said they agreed to end investment management and transition services deals for Credit Suisse's former securitized products business, Atlas SP.
The Swiss bank said Wednesday that the move marks the final step in the carve-out of Atlas SP, a business that Apollo acquired from Credit Suisse.
As part of the agreement, Apollo will buy $8 billion of senior secured financing facilities from UBS, the bank said.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
March 27, 2024 02:24 ET (06:24 GMT)
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