People Moves: HSBC AM adds energy transition infrastructure capability as GTP joins HSBC Alternatives team in Asia

Press Release - HSBC Global Asset Management (Hong Kong) Limited (AMHK), an indirect wholly-owned subsidiary of HSBC Holdings plc (HSBC) is adding Green Transition Partners Limited (GTP), a team of specialists focused on Energy Transition Infrastructure. The team will be part of HSBC Asset Management's (HSBC AM's) growing Alternative Investment business in Asia.

HSBC will effect this by entering into a Business Transfer Agreement (BTA) with GTP, where GTP employees and certain assets will transfer to AMHK. The transfer of such business assets is expected to be completed before the end of February 2023.  

Headquartered in Hong Kong, GTP is a specialist asset manager that invests in green energy infrastructure assets across Asia. The team invests in and works alongside leading in-country developers, targeting mid-market investments in renewable energy generation, storage, grids, charging and hydrogen infrastructure across Asia.

In 2021, HSBC AM announced that it was bringing together all of its existing alternatives capabilities under a single business unit called HSBC Alternatives, with a c.240-strong team and combined assets under management and advice of USD52 billion, as of 30 September 2022. The BTA aligns with its strategic priority of growing its alternatives capabilities as well as efforts in building a sustainability-driven business.

Daisy Ho, Chief Executive Officer, Asia-Pacific and Hong Kong, HSBC Asset Management, 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." 

HSBC AM will continue to invest significantly in this area to complement GTPs presence across the region covering Japan, South Korea, Taiwan, Vietnam, Indonesia, Malaysia, Thailand, the Philippines and mainland China, with a view to enhancing its Asia wealth proposition. 

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." 

Following the completion of the BTA, the GTP team will form the foundation of the Energy Transition Infrastructure Business in Asia-Pacific, part of the Real Assets proposition within HSBC Alternatives.

Source: HSBC Press Release