HSBC Securities Services wins $1.3 billion RWC mandate

Emerging markets sign1RWC Partners, an alternative investment manager based in London, has appointed HSBC Securities Services as administrator to five frontier and emerging market funds.

The funds are new and are expected to raise $1.3 billion (€1.1 billion) of assets during launch.

HSBC Securities Services will also provide global transfer agency services to the funds.

RWC announced in May that it had hired a 15-strong team from Everest Capital to build an emerging, frontier and Asia markets business. The firm also opened an office in Miami.

RWC has around $11 billion in assets under management and already has business with HSBC Securities Services going back to 2002.

Tony McDonnell, head of HSBC Securities Services in Ireland, where the funds are serviced from, says the contract is a “strategically important win” for the Irish business, which services over $140 billion in assets across 60 clients from its Dublin offices.

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