On 30 September 2024, UBS Group AG closed the sale of its 100% holding in Credit Suisse Insurance Linked Strategies Ltd ("CSILS") to the CSILS management team led by Niklaus Hilti. The respective agreement was signed in July 2024. CSILS now operates independently from UBS under a new name and will continue to manage the funds and single investor fund mandates.

Bär & Karrer acted as Swiss legal advisor to UBS in this transaction. The team included Vera Naegeli and Marie-Cristine Kaptan (both M&A and Corporate & Commercial), Daniel Flühmann and Christina Werren (both Regulatory), Ruth Bloch-Riemer (Pensions and Social Security), Susanne Schreiber and Martin Leu (both Tax) and Laura Widmer (Employment).

Freshfields Bruckhaus Deringer acted as international legal advisor to UBS.