07:02 AM EDT, 10/03/2025 (MT Newswires) -- UBS Group ( UBS )-managed (UBS) funds face more than $500 million of exposure to auto parts supplier First Brands Group, which recently filed for Chapter 11 bankrupcy protection, Bloomberg News reported Thursday, citing court documents.

UBS Hedge Fund Solutions is the biggest unsecured creditor with a $233.7 million claim for offering supply chain financing, according to the report.

Hedge fund business O'Connor, which the Swiss banking giant recently agreed to sell to Cantor Fitzgerald, has a similar claim for $116.1 million, Bloomberg reported, adding that UBS Asset Management has secured claims north of $160 million.

"This event affects many private credit and working capital providers across the industry," a UBS spokesperson said in a statement e-mailed to MT Newswires. "In this highly fluid situation, we are working to determine the potential performance impact on the small number of our affected funds, and are focused on protecting the interests of our clients."

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