(Reuters) – Credit Suisse is nearing a deal to sell its securitized-products group to investors Apollo Global Management and Pacific Investment Management Co, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

The consortium including Pimco, a big bond manager, and Apollo, a large alternative asset manager, beat out a group comprised of Centerbridge Partners and Martello Re Ltd., a life and reinsurance company, the Journal reported.

Credit Suisse declined to comment on the report. Apollo, Pimco, Centerbridge and Martello did not immediately respond to Reuters’ requests for comment.

Reuters reported last week that money managers Janus Henderson Group and investment firms including Blue Owl Capital Inc are weighing potential offers for the Swiss bank’s U.S. asset management unit.

The beleaguered Swiss lender is seeking buyers for its businesses as part of a multi-pronged effort to revise its strategy and raise capital following a string of scandals and financial setbacks.

The restructuring is being closely watched by Swiss regulator Finma, which is in regular contact with the bank, a person familiar with the matter told Reuters last week, highlighting the sensitivity of the revamp.

But with just a day to go before Credit Suisse’s strategic review update, it remains unclear what businesses can be sold and for what price – critical pieces in a jigsaw that will determine how much the bank may have to ask of shareholders.

(Reporting by Mehnaz Yasmin in Bengaluru; Editing by Anil D’Silva)