HSBC Asset Management Acquires Energy Transition Firm

HSBC Global Asset Management (HSBC AM) is taking over Hong Kong-based specialist asset manager Green Transition Partners (GTP), adding to the fund manager’s energy transition infrastructure capacity.

Following the agreement, the GTP team will join the HSBC Alternatives’ energy transition infrastructure business in Asia, which falls under its real assets proposition.

Established in 2021, Hong Kong-headquartered GTP focuses on mid-market investments in renewable energy generation, storage, grids, charging and hydrogen infrastructure across Asia.

Commenting on the acquisition, Daisy Ho, HSBC AM chief executive officer for Asia Pacific and Hong Kong, said: “The combination of GTP and our existing business across the region give us the scale, reach and capabilities to provide some of the capital required to support the transition of net-zero, in what is forecast to be the world’s biggest region for energy transition infrastructure investments.”

The transfer is expected to be completed by the end of February, the terms of the deal have not been disclosed. As of September 2022, HSBC AM had US$574 billion of assets, including $52 billion in alternatives.

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