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Credit Suisse and GE form joint venture

Credit Suisse and GE plan to meet the demand for global infrastructure investments in the formation of a new $1 billion joint venture.

The collaboration between Credit Suisse and GE Infrastructure will see the companies invest in energy and transportation assets worldwide with each party committing $500 million to the venture.

Both firms will also name a team of senior executives to manage the venture with targets for takeover set to include power generation, gas storage and pipeline facilities.

The infrastructure joint venture feels the market opportunity is around $500 billion in developed markets and $1 trillion in emerging markets over the next five years.

Dave Calhoun, GE spokesman, said: "This joint venture will help propel our international growth in serving the global need for trillions of dollars of investments to improve energy and transportation infrastructure.

Brian Finn, head of alternative investments at Credit Suisse, was also upbeat about the partnership.

He said: "As a leading global financial institution, the breadth of our expertise in developed and emerging markets, alternative investments, investment banking, project finance and capital markets, when combined with GE's longstanding industry expertise and leadership, makes for a dynamic partnership."