HSBC Asset Management announced today the addition of an energy transition infrastructure-focused investment team to its alternatives unit in Asia, in a business transfer agreement with Hong Kong-based asset manager Green Transition Partners.
In a statement announcing the agreement, HSBC said that the move would expand its alternatives capabilities, while marking a “major step” in its strategy to build a sustainability-driven business.
HSBC Asset Management Asia-Pacific and Hong Kong CEO Daisy Ho, said:
“The addition of GTP’s strong team is another milestone for HSBC AM’s alternatives franchise. The combination of GTP and our existing business across the region gives us the scale, reach and capabilities to provide some of the capital required to support the transition to net-zero, in what is forecast to be the world’s biggest region for energy transition infrastructure investments.”
Founded in 2021, Hong Kong-based Green Transition Partners is a specialist asset manager focused on green energy infrastructure assets across Asia, with expertise in private equity, project development and corporate advisory. The team targets mid-market investments in areas including renewable energy generation, storage, grids, charging and hydrogen infrastructure, working alongside in-country developers.
The Green Transition Partners team will join HSBC’s Alternative Investment business in Asia, and will form the foundation of the firm’s Asia Pacific Transition Infrastructure Business. HSBC formed HSBC Alternatives in 2021, bringing together all of its existing alternatives capabilities, encompassing private debt, venture capital, direct real estate, hedge funds and private markets teams in a single unit.
HSBC stated that the acquisition will enable its investors to diversify their portfolios to include a new and sustainably-focused asset class.
Paul Rhodes, Managing Partner, Green Transition Partners, said:
“We are excited to partner with HSBC AM to offer global investors access to green energy infrastructure investments in Asia. Our strategy should be appealing to clients of HSBC AM who are also focused on deploying into the low carbon economy. This partnership will help us connect local developers to global investors with similar sustainability goals.”