CS Euroreal Investors Spark Liquidation of $7.6 Billion Fund
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Credit Suisse Group AG plans to liquidate its 6 billion-euro ($7.6 billion) German property mutual fund after investors tried to withdraw more money than the fund has available.
CS Euroreal will be wound up within five years, the Zurich-based bank’s German property-management unit said in a statement today. Two weeks ago, SEB Asset Management AG said it will liquidate a real-estate fund of about the same size because it couldn’t meet demand for repayments.