The commitment would be parallel and separate to a possible investment in the First Boston unit that Apollo is also discussing. The firm has already agreed to acquire Credit Suisse’s securitized-products group in a deal that’s expected to provide the lender with much-needed liquidity during a restructuring period that has seen clients pull out funds and the share price slump to record lows.
Credit Suisse also said it’s expecting to “recognize the full pre-tax gain” on the deal of about $800 million in the first quarter. It expects to complete the deal within the first half of the year, it said.