Credit Suisse Sells 30% Stake in Energy Infrastructure Partners

Credit Suisse Group AG sold its 30% stake in Energy Infrastructure Partners AG to EIP’s managing partners.

Consolidating the shareholder group “strengthens the company’s independence and reinforces its foundation” amid a global expansion, EIP said in a statement Friday. Terms of the transaction weren’t disclosed.

Founded in 2014 as a joint venture with the Swiss bank, EIP manages assets including long-term equity stakes in large-scale renewables and other energy facilities. Credit Suisse will remain a partner after the transaction is completed, according to the statement.

“This strategic step enables EIP to pursue our ambitious growth plans in times of strong ...