Greensill deals caught up with founder – With insights from The Wall Street Journal
Nearly two weeks ago, Greensill Capital filed for insolvency protection. The company – once valued at $4 billion – left many investors in the lurch, including multiple German municipalities who had money in a Greensill-owned bank. In an earlier article, The Wall Street Journal noted the UK-based financial services provider seized operations when global wealth manager Credit Suisse 'prevented investors from moving money in or out the $10 billion in supply-chain investment funds'. But while the company's bread and butter was providing 'safe, short-term loans' to 'risk-averse investors', it's founder preferred a more intricate approach to deal making. This, says The Wall Street Journal, eventually caught up with the company, attracting 'the attention of regulators, [drawing] questions from business partners and [leading] a crucial insurer to walk away'.Julie Steinberg and Duncan Mavin document Lex Greensill's 'speculative ventures'. – Jarryd Neves
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