Credit Suisse Veterans Pile Into Reflation Wager in Hedge Fund
- Grimper Capital picks commodity stocks amid rising inflation
- Castro left Swiss lender’s wealth business to form new shop
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A new Brazilian hedge fund set up by veterans from Credit Suisse Group AG’s private-banking unit is betting big on commodity producers and rising rates as the global economy rebounds from the pandemic.
Sylvio Castro, the former chief investment officer at the Swiss bank’s Brazilian wealth business, helped create Grimper Capital -- named after the French equivalent of “to climb.” The Sao Paulo-based company has a 13-person team and an initial capacity to manage about 5 billion reais ($900 million), Castro said.