HSBC closes $250m global PE fund

The fund, known as Vision Private Equity 2019, has been planned as the first iteration in an annual series of vehicles under a new alternatives program established by HSBC Private Banking and HSBC Global Asset Management. Almost half of the contributions came from HSBC's Asian clients, according to The Straits Times.

“The launch of HSBC Vision Private Equity comes at a time when private markets are experiencing phenomenal growth,” Steven Ward, global head of alternative products, HSBC Global Asset Management, said in a statement.

“The scale of our capability and experience in identifying and sourcing the right opportunities through a highly selective investment process, combined with the wealth management capabilities of HSBC Private Banking, allows access to a diversified portfolio of carefully selected private equity managers that would be very difficult for others to replicate.”

It comes two weeks after HSBC launched an $880 million fund to provide debt financing for early-stage technology companies leveraging China’s Greater Bay Area development initiative.

In April, HSBC Private Banking raised about $300 million from its clients for Baring Private Equity Asia’s latest pan-regional fund via a feeder vehicle. HSBC Private Banking said it was the only global private bank offering access to the Baring fund, which is said to be targeting a corpus of $6.5 billion and reached a first close of $4.5 billion last year.

HSBC Global Asset Management manages $11.4 billion across private market funds and mandates, including $2.9 billion of committed capital in private equity. Its total alternatives exposure amounts to about $36.6 billion, including $3.6 billion of committed capital in hedge funds, private equity and infrastructure debt.

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• Topics
• Greater China
• Fundraising
• GPs
• Hong Kong (China)
• HSBC
• Secondaries
• Co-investment
• HNWIs