Private Equity: HSBC Closes Second Private Equity Fund

HSBC has raised $260 million for its second Vision Private Equity fund.  Last year, HSBC’s private equity fund closed at $250 million.  The strategy for this fund is to make primary and secondary co-investments.  These investments will be made globally and across various sectors and strategies.  

This private equity fund is part of HSBC’s Vision programme.  The purpose of this programme is to offer clients access to private equity investments.  In the last quarter of 2020, HSBC will launch its next fund.  

In a statement, head of alternative products Steven Ward expressed,  “Strong crop of private equity managers to choose from in this period of lower valuations…During these turbulent times, we have harnessed the fundamental characteristics of private equity such as active management, access to capital and manager skill that allow it as an asset class to provide downside protection.”  

HSBC GAM’s alternative team currently holds $52.6 billion assets under management.  $25.6 billion are in private market funds.