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HSBC Global Asset Management closes second Vision Private Equity Fund at over USD260m

20 August 2020
    Press release

    HSBC Global Asset Management today announces the successful close of the HSBC Vision Private Equity 2020 Fund, the second in an annual programme of Vision funds offering exposure to a global diversified portfolio by geography, sector and strategy.

    Building on the success of last year's programme which raised USD250m globally, the HSBC Vision Private Equity 2020 Fund closed at just over USD260m, with commitments from international investors, including the clients of HSBC Private Banking and HSBC Global Asset Management's institutional clients. The fund will invest in a number of private equity opportunities ranging from primaries and secondaries to direct co-investments.

    The Vision programme was designed in partnership by HSBC Global Asset Management and HSBC Private Banking. The programme benefits from the large scale of HSBC Global Asset Management's institutional mandate platform which committed USD1.7bn of capital in 2019 to private equity investments on behalf of its clients.

    The scale of our capability combined with our experience in identifying and sourcing opportunities through a highly selective investment process allows us to provide a range of exclusive opportunities for our clients globally.

    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. We believe there is a strong crop of private equity managers to choose from in this period of lower valuations.

    Steven Ward, Head of Alternative Products at HSBC Global Asset Management
    The ability for our clients to allocate to hard-to-access private equity names and gain meaningful exposure to well-researched and cost-effective direct deals and secondary transactions in a highly institutional and scalable format adds tremendous value to our proposition. It also ensures that HSBC Private Banking's investment offering is competitive, scalable, professional and sustainable.
    Henry Lee, Head of Managed Investment Solutions at HSBC Private Banking

    Vision Private Equity 2020 follows the successful close of four single vintage private equity opportunities completed by HSBC Global Asset Management over the past 12 months. With a total of USD800m raised in commitments, investors were given an opportunity to invest in a diverse range of alternative strategies, including real estate equity and debt, secondaries, co-investments, and impact investment strategies.

    The next in a series of annual Vision funds is expected to launch in Q4 2020.

    HSBC Global Asset Management's alternatives team has USD52.6 billion1 of assets, with USD25.6 billion2 across private market funds and mandates.

    1 As of 30 June 2020. Includes assets HSBC Global Asset Management Limited manages, advises on or has oversight of, and includes USD4.2bn from committed capital ("dry powder") in private equity and infrastructure debt.
    2 As of 30 June 2020 and includes USD3.6 billion from committed capital ("dry powder") in private equity.

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