Global Association for ESG
6 Jan 2023
HSBC Asset Management announced today the addition of an energy transition infrastructure-focused investment team to its alternatives unit in Asia
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.”
Green Transition Partners, a specialist asset management based in Hong Kong and founded in 2021, with experience in private equity, project development, and corporate consultancy. It focuses on green energy infrastructure assets throughout Asia. Working with local developers, the team focuses on mid-market investments in sectors such as renewable energy generation, storage, grids, charging, and hydrogen infrastructure.
The Green Transition Partners group will become a part of HSBC's Alternative Investment division in Asia and serve as the company's Asia Pacific Transition Infrastructure Business's core team. In 2021, HSBC established HSBC Alternatives, combining all of its existing alternative operations under a single umbrella, including private debt, venture capital, direct real estate, hedge funds, and private markets teams.
According to HSBC, the acquisition will allow investors to diversify their portfolios by adding a fresh asset class with an emphasis on sustainability.
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.”