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HSBC creates new unit for capital solutions

graphHSBC Asset Management (HSBC AM) is to establish a capital solutions unit that will sit within the HSBC Alternatives arm of the bank.

The capital solutions group (CSG) will look to raise funds and create offerings in private and sustainable assets, with the intent to deliver capital solutions for both institutional and wealth clients within HSBC Asset Management.

Acting within HSBC Alternatives, the CSG will also be expected to collaborate with the divisions of indirect alternatives, private credit, venture capital, and real assets.

Borja Azpilicueta will lead CSG and move to HSBC AM later this year, reporting to Joanna Munro, chief executive of HSBC Alternatives, and will also join the HSBC Alternatives management committee. Prior to his appointment to lead the CSG, Azpilicueta was global head of HSBC Global Banking’s private capital group.

Munro 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 has combined assets under management of $58 billion. In March 2022, it expanded its alternative investments capability with a listed infrastructure equity team and launched its first global listed infrastructure equity fund, and launched a UK-focused direct lending capability in 2021.

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