HSBC sets up infra debt platform

The unit is hoping to sign its first mandate with the group’s insurance company and will focus on senior investment-grade infrastructure debt.

HSBC has put together a team of five to launch a global infrastructure debt platform that will seek to raise institutional capital via separate accounts, sources familiar with the new unit told Infrastructure Investor.

The debt team hopes to sign its first mandate with HSBC’s insurance company, as it looks to invest mostly in senior, investment-grade infrastructure debt.

Glenn Fox, senior infrastructure specialist at HSBC Global Asset Management will lead the debt team’s investment professionals, numbering three, out of London. Ingrid Weston, until recently with Hastings Funds Management, will help to secure mandates as senior product specialist. A fifth person is employed on the analytics side.

HSBC is not the only bank looking to capitalise on private capital appetite for infrastructure debt. French bank Natixis, for example, has been prolific in setting up its own infrastructure debt platform, securing the likes of Swiss Life, French mutual insurer MACIF Group, Paris-based CNP Assurances, Belgium’s Ageas, Korea’s Samsung Life Insurance and KB Insurance as clients.