HSBC Asset Management (HSBC AM) will create a capital solutions unit within the bank's HSBC Alternatives division.
Within HSBC Asset Management, the capital solutions group (CSG) will look to raise funds and create offerings in private and sustainable assets, with the goal of providing capital solutions to both institutional and wealth clients.
The CSG will work closely with the divisions of indirect alternatives, private credit, venture capital, and real assets as part of HSBC Alternatives.
Borja Azpilicueta will lead CSG and join the HSBC Alternatives management committee later this year, reporting to Joanna Munro, the chief executive of HSBC Alternatives. Azpilicueta was the global head of HSBC Global Banking's private capital group before being named to lead the CSG.
"The creation of CSG demonstrates the strength and collaboration across HSBC’s business lines to serve our global clients by connecting borrowers and investors," Munro said.
HSBC Alternatives has a total of $58 billion in assets under management. It added a listed infrastructure equity team to its alternative investments capability in March 2022 and launched its first global listed infrastructure equity fund, as well as a UK-focused direct lending capability in 2021.
By fLEXI tEAM