(Bloomberg) -- Deutsche Bank AG is acting as a broker for some investors who are keen to sell their holdings in Credit Suisse Group AG’s supply-chain funds that bought products from Greensill Capital, according to people familiar with the matter.
The German bank has contacted hedge funds and investment firms to gauge interest for a deal, the people said, declining to be identified because the information is private. It’s unclear how many investors are looking to sell and at what price.
Representatives for Deutsche Bank, Greensill Capital and Credit Suisse declined to comment.
Credit Suisse started liquidating $10 billion of funds earlier this month after insurance covering some of the debt packaged by Greensill lapsed. The funds held in cash --about one third of the total-- will be distributed to investors, but the bank is exploring options for the remaining assets, Credit Suisse said on March 3.
The funds have a large exposure to receivables of GFG Alliance, a private metal group owned by Sanjeev Gupta. GFG said in February it was at risk of insolvency if Greensill stopped funding its businesses.
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