HSBC Capital (USA) Inc. mgmt form Graycliff Ptnrs

RNS Number : 2148Q

HSBC Holdings PLC

14 October 2011

 



14 October 2011

HSBC CAPITAL (USA) INC. MANAGEMENT TEAM TO FORM GRAYCLIFF PARTNERS

HSBC, through its wholly owned subsidiary HSBC Capital (USA) Inc. (HCUS), is to enter into investment advisory arrangements in relation to its existing private equity and mezzanine investment funds in the United States and Latin America with Graycliff Partners LP (Graycliff Partners), a new company formed by members of the current HCUS management team who will be leaving HSBC to establish Graycliff Partners.

Graycliff Partners will focus on private equity, mezzanine and real estate investments in the middle market of the United States and Latin America and will provide portfolio management services to HSBC in respect of assets amounting to approximately $1.1bn.

Completion of the investment advisory arrangements, which are expected to become effective in the fourth quarter of 2011, is conditional upon the regulatory registration of Graycliff Partners, among other matters.

Media enquiries to Jezz Farr on [phone] or at [e-mail]

Note to editors:

The HSBC Group

HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 7,500 offices in 87 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$2,691bn at 30 June 2011, HSBC is one of the world's largest banking and financial services organisations.

 

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