HSBC Asset Management (AM) has announced the anchor round closing for its first-vintage NAV financing partnership strategy, which has raised $1bn from a globally diverse institutional investor base.
The fundraise round is anchored around commitments from insurance and pension investors, as well as from within the HSBC group.
The strategy, which is part of HSBC AM’s alternative credit platform, invests in a diversified portfolio of senior secured loans financing high-quality European and Asian-based private equity funds’ portfolio growth.
The loans are secured and collateralised by the NAV of the underlying investment portfolios and are rated investment grade and follow ILPA disclosure frameworks.
The NAV strategy, HSBC said, is "built on disciplined underwriting and conservative structures", targeting attractive returns with the additional benefit of an investment grade rating and underlying diversification.
The strategy will continue fundraising during 2026 and into 2027.
CEO at HSBC Alternatives, Thorsten Michalik, said: "Our NAV financing strategy continues to attract sustained interest from well-established insurance and pension investors, as well as sophisticated family offices, seeking access to a performing and resilient asset class at this point in the cycle.
“We greatly value the support of our cornerstone investors as we deliver innovative, high-quality investment solutions with a distinctive HSBC perspective. We look forward to building on this momentum ahead of the final close."
Head of capital solutions at HSBC AM, Borja Azpilicueta, added: "We are focused on financing mid-market, real economy private equity portfolios and private equity managers at a time when this form of capital is key to anchoring their next phase of growth.
"Through our partnership with HSBC Bank, we can provide sponsors with flexible and efficient solutions, leveraging our platform across Europe and Asia. The successful closing of our anchor round reflects clear endorsement from top-tier institutional investors in our expertise and origination capabilities. We are grateful to our investors and borrower partners for their continued support."
