Credit Suisse scrambles to contain $10 billion Greensill aftershocks
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Hedge Fund Bronte Shorts Credit Suisse on Frozen Greensill Funds
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Here’s a Rundown of How Greensill Unraveled, the Key Players, and What Could Be Next
Lex Greensill’s business has unraveled at a blistering pace, leaving a tangled trail of destruction all around it.
On Monday, Greensill Capital filed for administration in the UK, capping a stunning collapse for its founder. The bank that he owns in Germany has been shut down by regulators, the funds he ran in partnership with Credit Suisse are being liquidated and his firm is in the process of being broken up with its core perhaps sold to Apollo-backed Athene Holding Ltd.
Greensill himself has lost his billionaire status, and the myriad strands tangled up in the collapse involve everything from investment funds to the steel industry to Britain’s healthcare system.