HSBC raises $338m for Vision Private Equity fund

HSBC Private Banking has closed its Vision Private Equity 2019 fund (Vision 2019), raising more than US$250 million (S$338 million) globally, with nearly half of the capital from clients in Asia.

The exercise completes six months of private equity and debt funding during which HSBC clients in Asia have placed more than US$500 million across a number of funds, said the private bank.

The bank added that Vision 2019 has proven popular with clients seeking diversified private equity solutions as well as those wishing to meet their annual asset allocation requirements in private equity through a single port-folio.

Clients are more inclined to invest in alternative assets given volatile market conditions and the late-cycle investment stage, said Mr Edward Moon, regional head of alternative investments, Asia, HSBC Private Banking.

"In recent years, the overall number of publicly listed companies on US stock exchanges has been declining, or conversely, more companies are choosing to stay private and for longer periods than ever before," he added.

HSBC Vision private equity funds aim to deliver a mix of short-and longer-term value.

Each portfolio is constructed from a set of core funds, along with a variety of thematic funds and direct co-investment plays.

A version of this article appeared in the print edition of The Straits Times on June 27, 2019, with the headline 'HSBC raises $338m for Vision Private Equity fund'. Print Edition | Subscribe