HSBC Global Asset Management has closed its HSBC Vision Private Equity 2020 Fund at just over USD260 million.
Investors in the fund, which will invest in a number of private equity opportunities from primaries and secondaries to direct co-investments, include HSBC Private Banking and HSBC Global AM’s institutional clients.
The HSBC Vision Private Equity 2020 Fund is a continuation of last year’s programme, which raised 250 million globally. The next in the series of Vision funds is intended to launch in Q4 2020.
The annual programme of Vision funds provides exposure to a global diversified portfolio by geography, sector and strategy. The Vision programmes were designed in partnership by HSBC Global Asset Management and HSBC Private Banking.
The programme benefits from the large scale of HSBC Global AM’s institutional mandate platform, which committed USD1.7 billion of capital in 2019 to private equity investments on behalf of its clients, according to HSBC Global AM.
HSBC Global AM’s alternatives team has USD52.6 billion of assets, with USD25.6 billion across private market funds and mandates.
“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, said Steven Ward, head of alternative products at HSBC Global AM.
“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,” added Ward.
Henry Lee, head of managed investment solutions at HSBC Private Banking, commented that Vision Private Equity 2020 follows the close of four single vintage private equity opportunities completed by HSBC Global AM over the past 12 months.