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Pimco Stops Sponsoring Ex-Credit Suisse Boss’s SPAC

  • Asset management giant was early backer of Freedom Acquisition
  • Pimco selling stake in SPAC’s sponsor to China Bridge Capital
Corrected

Fund management giant Pimco has ended its role as a sponsor of former Credit Suisse Group AG Chief Executive Officer Tidjane Thiam’s fintech SPAC.

Pimco, which was one of the financial backers behind the creation of Thiam’s Freedom Acquisition I Corp., has agreed to sell its entire stake in the sponsor vehicle for the blank-check firm to an affiliate of China Bridge Capital, according to a June 8 filing.