No capital increase for CS REF Green Property for the time being
Credit Suisse postpones the capital increase of the real estate fund CS REF Green Property planned for the fourth quarter. The reasons are the high volatility on the fund market and the gloomy market environment.
Preparations for the capital increase of Credit Suisse Real Estate Fund Green Property (CS REF Green Property) have been largely completed as planned, Credit Suisse Funds AG announced. However, the last few weeks have shown that real estate funds are subject to a persistently difficult phase with high volatility in the market for listed Swiss real estate funds. These market conditions had deteriorated significantly since the time of the announcement, so that a successful issuance in the fourth quarter could not be guaranteed. Therefore, the fund management has put the capital measure on hold until further notice.
When announcing the issue, Credit Suisse had stated that the volume of the capital increase was to be between CHF 140 million and CHF 170 million. The plan was to use the proceeds from the issue for the further expansion and diversification of the real estate portfolio. (ah)
