Alternative Investments: HSBC Asset Management Sets Up New Unit For Alternatives

June 21, 2022 | Alternative Investments, News

The new Capital Solutions Group (CSG) will be a part of the bank’s alternatives business, HSBC Alternatives.

The CSG will be headed by Borja Azpilicueta and will be responsible for fundraising and bespoke offerings in private and sustainable assets that deliver flexible capital solutions for both institutional and wealth clients of HSBC Asset Management. (WealthBriefingAsia)

“The creation of CSG demonstrates the strength and collaboration across HSBC’s business lines to serve our global clients by connecting borrowers and investors,” Joanna Munro, CEO, HSBC Alternatives said.

Borja Azpilicueta, previously Global Head of HSBC Global Banking’s Private Capital Group, will report to Munro and will also join the HSBC Alternatives Management Committee.

“The CSG will become a new horizontal within HSBC Alternatives, collaborating with the existing investment capabilities of indirect alternatives, private credit, venture capital and real assets, to develop and scale solutions for both issuer and investor clients,” HSBC added.

HSBC created its new $53 billion alternatives unit in June 2021, bringing together all the firm’s alternatives capabilities under one roof.

Last month, HSBC AM raised $1 billion (€954 million) for its UK direct lending strategy which financed 23 companies. The strategy comes under the Alternatives division, which employs 228 people and manages assets under management and advice of $49 billion.

Related Story: HSBC Consolidates Alternatives Units Into “HSBC Alternatives”

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