Credit Suisse and NECC forge partnership
Credit and clearing service provider North American Energy Credit and Clearing (NECC) has entered into a joint venture with investment bank Credit Suisse.
The deal will enhance NECC’s services while granting Credit Suisse’s clients access to the US$1 trillion power and gas physical trading markets.
The bank has taken an undisclosed equity position in NECC to become a minority shareholder, enabling it to “support rapid growth of our trading platform,” according to a NECC spokesperson. The investment is being made by the Credit Suisse Next II Fund.
NECC’s has completed some 600 transactions valued at over US$100 million in recent months with a
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