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SoftBank exits Credit Suisse funds after circular financing review

Japanese group pulls $500m from vehicles that bet on start-ups its Vision Fund backed

SoftBank's decision comes after the Swiss bank completed a review of the circular financing arrangement.    © Reuters

LONDON (Financial Times) -- SoftBank has redeemed its investment in Credit Suisse funds that made big bets on the debt of start-ups backed by the Japanese technology conglomerate's Vision Fund, after the Swiss bank completed a review of the circular financing arrangement.

Credit Suisse launched the review after the Financial Times revealed that SoftBank had invested more than $500m of its own money into the more than $7.5bn range of investment vehicles.

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