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HSBC AM unveils new capital solutions unit for expanding alternatives business

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HSBC Asset Management is creating a new unit within its USD58 billion alternatives business to provide new and bespoke capital solutions in private and sustainable investment markets for institutional and wealth clients.

In the latest step in the growth of the USD618 billion asset manager’s alternative business, the new Capital Solutions Group (CSG) unit will be headed by Borja Azpilicueta – formerly global head of HSBC Global Banking’s private capital group.

Azpilicueta will move to HSBC AM later this year – reporting to Joanna Munro, CEO of HSBC Alternatives – and will also join the management committee of the expanding HSBC Alternatives operation.

In a statement, HSBC AM said the new CSG unit will “raise funds and create bespoke offerings in private and sustainable assets delivering flexible capital solutions for both institutional and wealth clients of HSBC Asset Management”.

The firm added that the unit 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”.

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

HSBC Alternatives, which has a team of more than 220 people, has combined assets under management and advice of USD58 billion. In March this year the business expanded its alternative investments range with a new Listed Infrastructure Equity team from AMP Capital and launched its first Global Listed Infrastructure Equity fund.

Last month the group announced that its UK-focused direct lending capability had attracted USD1 billion in commitments from institutional investors in its first year.

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