HSBC raises USD 580m-plus for second UK direct lending vintage

The strategy invests in senior secured loans to mid-market private equity backed companies in partnership with HSBC UK bank, according to a statement.

HSBC AM’s UK direct lending team raised USD 1.1bn for the first vintage of the strategy and associated mandates in May 2022 and has already committed more than 80% of the capital, it said.

The focus of the strategy is on the underserved lower-risk senior segment, investing in defensive, differentiated and high growth business models. Its investments to date have been diversified across industries and geographically spread across the UK. The strategy integrates ESG factors throughout the investment process, it added.

The launch of the senior UK direct lending strategy is part of HSBC AM’s efforts to grow its alternatives capabilities, which now fall under a single business unit, HSBC Alternatives. The unit has a team of nearly 170 professionals covering nine direct and indirect capabilities, it said.

HSBC Alternatives had combined assets under management and advice of USD 64.7bn as of 31 March 2023.

People
HSBC AM − Maria Ryan (head of institutional sales for the UK and Nordics), Tom Green (head of direct lending UK & Europe).

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