The Swiss banking giant did not name its shareholders but its largest stakeholders are the Qatar Investment Authority with 8.9 percent and Saudi conglomerate Olayan with 6.6 percent.
Credit Suisse said the fund would operate through its Asset Management business and would “pursue credit investments in global emerging markets”.
“Our shareholders commitment to the fund is a testament to the strength of Credit Suisse’s Emerging Markets franchise and the value that can be created for investors in these important markets,” Rob Shafir, chief executive for the bank’s asset management division, said in a statement.
The Emerging Markets Credit Opportunity fund (EMCO) would be managed by Credit Suisse and focus on investment opportunities in emerging markets in Latin America, Asia, Europe, the Middle East and Africa.
Meanwhile, Credit Suisse said it was cutting around 75 jobs in its UK operations, becoming the second investment bank in as many days to slim down as economic fears hit the deal-making business.
Financial market jitters in the wake of Europe’s debt crisis.
