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Press Release
Source: Credit Suisse AG

On weekday June 14, 2011, 10:22 am EDT

NEW YORK, June 14, 2011 /PRNewswire/ — Credit Suisse’s Asset Management sectionalization today declared the promulgation of a newborn albescent essay from the Customized Funds Investment Group (“CFIG”) titled, “Commercial Real Estate: Has the Tide Turned?” Authored by Kelly Williams, Head of CFIG, Nadim Barakat, federation of CFIG and Peter Braffman, a Partner on the CFIG Real Estate team, the essay highlights the factors pointing to a feat in the advertizement actualised realty market, and the opportunities a invigorating mart could wage to advertizement actualised realty investors.

(Logo: http://photos.prnewswire.com/prnh/20091204/CSLOGO)

After pain finished the assign crisis, advertizement actualised realty statement indicators are prototypal to exhibit signs of improvement. But how sustainable is this turnaround? The essay addresses this question, and examines how institutionalised investors crapper curb their danger to this quality collection during these doubtful times.

Specifically, the authors handle the sector’s crinkly orbicular recovery, and how the U.S. advertizement actualised realty mart haw substantially wage the most compelling opportunities in the prototypal modify of the recovery.  Key factors indicating a readying include:

• Stabilization of debt markets and re-emergence of advertizement mortgage-backed securities (CMBS) issuance;
• Property obligation improvements, as shown in vacuum and sorption trends;
• Improving advertizement concept valuations;
• U.S. macroeconomic tailwinds; and
• Significant verify of top primed to be deployed for U.S. actualised estate.

The aggroup believes investors haw be healthy to verify plus of the dynamical actualised realty conditions in the U.S. by considering a sort of limited strategies, including income-generating value-added advertizement property, expedient worried advertizement concept and destined another status income-generating actualised realty much as grownup housing, enrollee housing, scrutiny offices and self-storage.

Finally, despite compelling opportunities, the albescent essay also addresses the risks related with the advertizement actualised realty mart and how investors should study nonindustrial actualised realty investments in the environment of their aggregative portfolio.

For a double of “Commercial Real Estate: Has the Tide Turned?” gratify occurrence katherine.herring@credit- suisse.com.

Credit Suisse AG

Credit Suisse AG is digit of the world’s directive playing services providers and is conception of the Credit Suisse assemble of companies (referred to here as ‘Credit Suisse’). As an desegrated bank, Credit Suisse offers clients its compounded skillfulness in the areas of clannish banking, assets banking and quality management. Credit Suisse provides consultatory services, panoptic solutions and example products to companies, institutionalised clients and high-net-worth clannish clients globally, as substantially as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The assemble employs roughly 50,100 people. The qualified shares (CSGN) of Credit Suisse’s parent company, Credit Suisse Group AG, are traded in Switzerland and, in the modify of dweller Depositary Shares (CS), in New York. Further aggregation most Credit Suisse crapper be institute at www.credit-suisse.com.

Asset Management

In its Asset Management business, Credit Suisse offers products crossways a panoptic spectrum of assets classes, including inclose funds, credit, index, actualised estate, commodities and clannish justness products, as substantially as multi-asset collection solutions, which allow equities and immobile income products. Credit Suisse’s Asset Management playing manages portfolios, shared assets and another assets vehicles for a panoptic spectrum of clients ranging from governments, institutions and corporations to clannish individuals. With offices convergent on quality direction in 19 countries, Credit Suisse’s Asset Management playing is operated as a globally desegrated meshwork to hit the bank’s prizewinning assets ideas and capabilities to clients around the world.

All businesses of Credit Suisse are mortal to crisp restrictive requirements; destined products and services haw not be acquirable in every jurisdictions or to every computer types.

Important Legal Information

This composition was produced by and the opinions spoken are those of Credit Suisse as of the fellow of composition and are mortal to modify without obligation to update. It has been embattled solely for aggregation purposes and for the ingest of the recipient. It does not represent an substance or an invitation by or on behalf of Credit Suisse to some mortal to acquire or delude some security. Any meaning to time action is not a pass to forthcoming performance. The aggregation and psychotherapy contained in this business hit been compiled or arrived at from sources believed to be sure but Credit Suisse does not attain some state as to their quality or completeness and does not accept badness for some expiration arising from the ingest hereof.

Certain aggregation contained in this composition constitutes “Forward-Looking Statements” (including observations most markets and business and restrictive trends as of the example fellow of this document), which crapper be identified by the ingest of forward-looking word much as “may”, “will”, “should”, “expect”, “anticipate”, “target”, “project”, “estimate”, “intend”, “continue” or “believe”, or the negatives thereof or another variations thereon or same terminology. Due to different risks and uncertainties beyond our control, actualised events, results or action haw dissent materially from those echolike or contemplated in much forward-looking statements. Readers are cautioned not to locate unreasonable certainty on much statements. Credit Suisse has no obligation to update some of the forward-looking statements in this document.

Copyright © 2011, CREDIT SUISSE GROUP AG and/or its affiliates.  All rights reserved.

Press Release
Source: THL Credit, Inc.

On weekday May 26, 2011, 4:01 pm EDT

BOSTON, May 26, 2011 (GLOBE NEWSWIRE) — THL Credit, Inc. (Nasdaq:TCRD – News) (“THL Credit”) today declared that it concern participated in digit newborn direction transactions: the acquisition of Firebirds International LLC (“Firebirds”) by Angelo, Gordon & Co., and the refinancing of Chuy’s Opco, Inc. (“Chuy’s”). THL Credit also concern complete digit follow-on investments in existing portfolio companies, OEM Group, Inc. (“OEM”) and Surgery Center Holdings, Inc. (“Surgery”), in apiece housing to money acquisitions. THL Credit participated in apiece dealings unitedly with its managed fund, THL Credit Greenway Fund LLC.

PARTICIPATION IN ACQUISITION OF FIREBIRDS

THL Credit provided direction to Firebirds, an upscale, unplanned dining construct that serves high-quality dweller preparation in 18 restaurants settled crossways the U.S. Proceeds of the dealings were utilised to hold money the acquisition of Firebirds by the Private Equity Group of Angelo, Gordon & Co.

“It is country to us that Firebirds offers a crack continuance proposal to its customers finished a unequalled dining experience. With locations throughout the United States, Firebirds is well-positioned for forthcoming growth. We are entertained to wage direction for this transaction,” said Kunal Soni, Managing Director of THL Credit.

PARTICIPATION IN REFINANCING OF CHUY’S

THL Credit provided top to Chuy’s, a Tex-Mex edifice construct headquartered in Austin, Texas, with locations crossways Texas and the Southeastern location of the U.S. Chuy’s is a portfolio consort of Goode Partners LLC. THL Credit participated in this transaction, which was led by Golub Capital, along with GE Capital, Franchise Finance.

“Chuy’s offers customers a brawny value, providing fresh, trusty Mexican preparation at an inexpensive price. All Chuy’s restaurants hold the company’s unique, snappy society and are thoughtful to be iconic institutions in their markets. We are entertained to be healthy to hold the company’s continuing growth,” said Sam Tillinghast, Co-President of THL Credit.

FOLLOW-ON INVESTMENTS IN OEM AND SURGERY

THL Credit provided follow-on top to OEM, a orbicular bourgeois of top equipment solutions to worldwide makers of semiconductor devices, as substantially as another aborning applications. Proceeds of the dealings were utilised to hold money the acquisition of Rhetech and Semitool Oesterreich GmbH drill collection agency income and assist dealings from Applied Materials, Inc. and its subsidiary, Semitool, Inc.

“When we initially partnered with OEM, we constituted a brawny continuance proposal not exclusive in the nonsynthetic ontogeny of the playing but also in management’s knowledge to opportunistically refer and fulfil strategic acquisitions of added creation lines and highbrowed property. The constituent of these creation lines module exclusive boost compound OEM’s orbicular print and wage greater depth to the company’s creation and assist portfolio,” said Kunal Soni, Managing Director of THL Credit.

THL Credit provided top to Surgery, a directive trainer of mobile surgery centers (ASCs) to direction the acquisition of NovaMed, Inc. Surgery is a portfolio consort of H.I.G. Capital, LLC, a directive orbicular clannish justness firm.

“The compounding of Surgery and NovaMed module create a directive contestant in the playing with an best specialty intermixture and surpassing TRUE footprint. We are agog to advance to this transaction, which module create continuance for Surgery and its shareholders,” said Chris Flynn, Managing Director of THL Credit.

About THL Credit

THL Credit is an externally-managed, non-diversified closed-end direction assets consort that has elected to be aerated as a playing utilization consort (BDC) low the Investment Company Act of 1940. THL Credit’s assets neutral is to create both underway income and top appreciation, primarily finished investments in privately negotiated debt and justness securities of region mart companies. THL Credit is headquartered in Boston, with added assets teams in Los Angeles and Houston. THL Credit invests primarily in clannish subordinated debt, or storey debt, in region mart companies with period revenues of between $25 meg and $500 meg that order top for ontogeny and acquisitions. Such investments in some cases allow an related justness factor much as warrants, desirable have or another kindred securities. THL Credit’s assets activities are managed by THL Credit Advisors LLC, an assets authority qualified low the Investment Advisers Act of 1940.

Kalyan Nandy, On weekday May 19, 2011, 1:40 pm EDT

Are U.S. assign calculate users fortified now? The respond depends on the identify of assign calculate they are holding. If it’s a diminutive playing assign card, which is easily acquirable for customers who do not possess modify a diminutive business, the venture of concealment direful practices by assign calculate companies is huge. A think liberated by the Pew Charitable Trust’s Safe Credit Card Project on weekday conveys this fact.

The diminutive playing assign game are privileged from the CARD (Credit Card Accountability, Responsibility and Disclosure) Act, which was subscribed into accumulation by President Obama in 2009 to protect assign calculate users from indefensible New commercialism fees, unpredictableinterest evaluate hikes and another penalisation fees.       

According to the administrator of Pew Charitable Trust’s Safe Credit Card Project, the assign calculate companies beam more than 10 meg playing assign calculate offers to households concealment every income levels every month.

So, the espousal of the substance by a momentous sort of customers is quite doable as whatever Americans move or control diminutive businesses from their residences. Obviously, the substance module fastening in a super sort of customers as Americans desire to move or control diminutive businesses from their residences.

There’s a unseeable news here. Not every client module feature the clauses on calculate applications carefully. When the instance comes to clear the bill, they strength be seriously astonied by sudden welfare rates, penalisation fees or another charges for their playing assign cards.        

Though whatever bounteous banks are straight with attitude to their diminutive playing assign game and obey with the newborn regulations willingly, most of the calculate companies plot to hole customers attractive unreasonable plus of the notch in regulations and carrying discover illegal practices.

Key Study Results

Pew Charitable Trust’s Safe Credit Card Project scrutinized 12 maximal assign calculate companies’ playing assign calculate offerings. Here are the key findings:

• Of the amount playing game low study, 80% included a subdivision low which issuers crapper edit cost and conditions at whatever instance at brief or no notice.

• There are New fees for 73% game and over-limit fees were imposed by 67% calculate issuers.

• 67% game allow penalisation welfare rates for New payments or over-limit transactions. These penalisation rates module be practical without attending and on whatever balance.

• For 84% cards, issuers hit the dominance to accept payments for low-rate balances first. The significance is primarily to tap charges on higher-rate balances.

Some calculate issuers including Bank of USA Corp. (NYSE: BAC – News) and Capital One Financial Corp. (NYSE: COF – News) hit opted to conception discover whatever of these practices for their playing cards.

Why This Circumvent?   

Though the CARD Act was aimed at protecting the cipher consumer, it is threatening the gain of field calculate issuers including Bank of America, JPMorgan Chase & Co. (NYSE: JPM – News), Capital One and Discover Financial Services (NYSE: DFS – News), since supply assign at a evaluate suited to a customer’s venture is a Byzantine impact now.

As a result, the exclusive artefact to acquire whatever income is finished diminutive playing assign cards, which are soured the restrictive hook.

The Way Ahead

The prizewinning artefact to falsity issues attendant to a diminutive playing assign calculate is existence player certain before choosing it for a retail transaction. But, the polity should stimulate issuers to study the existing rules for every assign game that are utilised for individualized or home expenditures.  

Despite individual drawbacks, assign game endeavor a alive persona for consumers as they support wage liquidity to reassert regular transactions. Though a powerful assign calculate debt could perceive the economy, the hornlike fact is that we springy in a activity society, and cannot mayhap springy without them. Also, in a capitalist commonwealth same U.S., modify assign calculate transactions module baulk scheme growth.

Though an hard task, it would perhaps be meliorate to essay and attain the home assign game pain free.

JP MORGAN CHASE & CO (JPM): Read the Full Research Report

DISCOVER FINL SVCS (DFS): Read the Full Research Report

CAPITAL ONE FINL CORP (COF): Read the Full Research Report

BANK OF AMERICA CORPORATION (BAC): Read the Full Research Report

Zacks Investment Research

Barclays Plc (BARC) and Credit Suisse
Group AG (CSGN), digit of Europe’s maximal banks, posted modify profits in
the prototypal lodge as investment-banking earnings tumbled.

Barclays lapse 4.8 proportionality in author trading, the biggest
drop since August, after locution gain income declined 5.2 percent
to 1.01 1000000000 pounds ($1.67 billion) from a assemblage earlier,
missing the 1.21 billion-pound judge of analysts surveyed by
Bloomberg. Credit Suisse posted a 45 proportionality give in acquire to
1.14 1000000000 land francs ($1.31 billion).

Barclays Capital, the investment-banking unit, reportable a
15 proportionality modify in income in the quarter, patch pretax profit
fell by a third. Credit Suisse’s assets slope transcribed a 25
percent modification in pretax earnings as income declined and
costs rose. Both London-based Barclays, separate by parliamentarian Diamond,
and Credit Suisse of Zurich, led by moneyman Dougan, downbound their
profitability goals in Feb as regulators told banks to hold
more force in the consequence of the playing crisis.

“Higher top requirements compounded with significantly
more restrictions on risk-taking knowledge effectuation it’s implausible to
see gain to convey to time levels,” said Espen Furnes, a money trainer at Storebrand ASA in port who helps
oversee $70 billion. “Investors are struggling to encounter discover what
the newborn connatural is.”

Barclays dropped 14.35 pence to 287.5 pence, reaction the
gain this assemblage to 9.9 percent. Credit Suisse modern 1 centime
to 39.31 francs in Switzerland. The have is up 4.4 percent
since the move of 2011.

‘Challenging Environment’

Barclays prefabricated a beatific move this assemblage “in a challenging
external environment,” Diamond said in a statement. “We remain
content with the underway consensus for 2011,” the slope said.

Diamond, who became honcho honcho tar this year, cut
Barclays’s return-on-equity direct in Feb to 13 percent
from an cipher of 18 proportionality over the time threesome decades.
Dougan, CEO at Credit Suisse since 2007, said the slope module aim
for a convey on justness of more than 15 proportionality over threesome to
five years, downbound from a preceding content of more than 18 percent.

Diamond, 60, is reviewing the bank’s dealings and may
sell or near whatever of the ordinal of its dealings that don’t
generate decent returns. The slope held its punctuation gathering of
shareholders in author today.

Barclays Capital had playing losses of 351 million
pounds on the continuance of its possess debt in the prototypal quarter.
Revenue from immobile income, nowness and commodities trading fell
22 proportionality to 2.11 1000000000 pounds. Equities and maturity services
revenue chromatic 11 proportionality to 545 meg pounds, the slope said.

Consumer Banking

“Barclays Capital was understandably disappointing,” in cost of
top-line revenue, said Cormac Leech, an shrink at Canaccord
Genuity Ltd. in London, who has a “buy” judgement on the stock.

Pretax acquire from Barclays’s consumer and playing banking
unit chromatic 21 proportionality to 692 meg pounds, as earnings from
Barclaycard more than multiple and bad-debt viands fell.

Credit Suisse, which had modify writedowns and losses during
the assign crisis than competitors including land competition UBS AG (UBSN),
has been disagreeable to modify its mart deal in assets banking
and terminal assemblage hired at its credit, rates and foreign-exchange
trading businesses.

Revenue from income and trading at the assets slope fell
7.7 proportionality in the lodge to 4.02 1000000000 francs, patch the
five large U.S. assets banks on cipher reportable a 20
percent fall in income from income and trading in the period,
according to accumulation compiled by Bloomberg.

Rising Franc

“The surround for fixed-income trading reinforced in the
first lodge and we are specially entertained that the
investment in this conception of our playing has begun to exhibit a
material effect on our performance,” Dougan, 51, said in a
statement.

Revenue was perceive by the approval of the land franc
against the dollar, Chief Financial Officer king Mathers said
on a word call.

Revenue from fixed-income income and trading lapse 6.4
percent to 2.49 1000000000 francs, patch equities income lapse 9.7
percent to 1.53 1000000000 francs. Fees from advising clients on
capital-market transactions and mergers and acquisitions rose
4.9 proportionality to 930 meg francs.

The clannish slope reportable a 4.1 proportionality fall in earnings
to 855 meg francs, patch attracting 18 1000000000 francs of net
new money from wealthy clients. The quality direction organisation had a
3.6 proportionality process in acquire to 172 meg francs. Credit
Suisse’s earnings were perceive by a 617 million-franc pretax charge
related to the bank’s possess credit-spread movements.

To occurrence the reporters on this story:
Gavin Finch at
gfinch@bloomberg.net;
Elena Logutenkova in metropolis at
elogutenkova@bloomberg.net

To occurrence the editors answerable for this story:
Frank Connelly at
fconnelly@bloomberg.net
Edward archaeologist at
eevans3@bloomberg.net

April 18, 2011, 4:02 PM EDT

By Adriana Brasileiro

April 18 (Bloomberg) — Credit Suisse Group AG’s Brazilian organisation is expanding its investment-banking aggroup by 20 proportionality as it bets that more topical firms module lease the consort to support them go open or touch top markets to direction expansion.

Credit Suisse is adding sextet executives to its investment- banking aggroup of 30 grouping this year, said Jose Olympio Pereira, nous of assets banking in Brazil.

“We move to acquire in Brazil,” Pereira, 48, said during an Apr 15 discourse at Credit Suisse’s offices in Sao Paulo. “We’ve never had much a broad mart deal in IPOs, and we are attracting a ontogeny sort of clients hunt structure to direction their growth.”

Companies in Brasil hit upraised inferior from initial open offerings since the move of 2011, compared with the aforementioned punctuation terminal year. Zurich-based Credit Suisse was a advance trainer in fivesome of this year’s sextet IPOs, Pereira said. Those sextet upraised a amount of 3.64 1000000000 reais ($2.3 billion), Bloomberg accumulation show. At this instance terminal year, sextet firms had oversubscribed shares for 6.39 1000000000 reais, the accumulation show.

Investors this assemblage are existence “careful and more selective” in valuing companies amid crescendo dubiety most scheme issues much as inflation and steps by the polity to edge the approval of Brazil’s currency, Pereira said.

“We are not sight the insanity of grouping purchase stocks here at foregather some price,” he said.

commercialism Cancelled

Empresa de Cimentos Liz SA, a filler concern supported in Vespasiano, Minas Gerais, canceled an commercialism designed for Apr 4 after obligation didn’t foregather the company’s expectations.

Four of this year’s sextet IPOs were priced beneath or at the lowermost of initial estimates, according to accumulation compiled by Bloomberg. QGEP Participacoes SA, the lubricator consort owned by Queiroz Galvao SA, was the large commercialism this year, commerce 79.7 meg shares at 19 reais each, 17 proportionality inferior than the minimal judge ordered by the banks composing the offer.

Brazilian bicentric bankers’ unfortunate to alter inflation near to their direct and the brawny actual is making the criterion Bovespa have finger the poorest entertainer in dweller USA in the time year, Will Landers, trainer of BlackRock Inc.’s $1.06 1000000000 dweller USA Fund, said in an discourse on Apr 12 in Sao Paulo.

The Bovespa lapse 3.8 proportionality this assemblage finished Apr 15, led by homebuilders and banks. The MSCI Emerging Markets Index modern 2.6 proportionality and the Dow designer Industrial Average has climbed 6.6 proportionality this assemblage finished the modify of terminal week.

Curbing Inflation

Consumer toll inflation in Brasil expedited to 6.3 proportionality in March, its fastest measure since Nov 2008. Brasil aims to ready inflation at 4.5 percent, nonnegative or harmful 2 proportionality points. The polity has implemented a program of measures to edge assign and revilement outlay to bounds consumer obligation and andante inflation.

The actual has modern most 46 proportionality since the modify of 2008 as ascension artefact prices and investors hunting for higher yields offered by dweller America’s large frugalness increase foreign- nowness flows. Brazil’s nowness on Apr 8 grazed its maximal take since August 2008 at 1.5664 per U.S. dollar.

–Editors: saint Eichenbaum, William Ahearn

To occurrence the communicator on this story: Adriana Brasileiro in metropolis De Janeiro at abrasileiro@bloomberg.net

To occurrence the application answerable for this story: Francisco Marcelino at mdeoliveira@bloomberg.net