According to the publication, The Qatar Investment Authority (QIA) purchased its stake from the stock market compared to other funds that have invested in crisis-ridden financial groups. The purchase was worth apprximately $500 million for about 1% to 2% stake of the company.
QIA’s investment comes after Credit Suisse reported huge profits during the fourth quarter despite a crisis in the credit market, the report said.
Financial Times revealed that QIA is not interested in having a seat in Credit Suisse’s board. According to QIA, this would only lead to unnecessary conflict with other investment companies. Credit Suisse’s board includes investment companies that hold even a minority stake in the company. Investment company Olayan has a board seat even though it has a stake of 3.4% in Credit Suisse.
