HSBC's Asian private-equity team completes buyout

In all, 17 former HSBC staff start work in a renamed company, Headland Capital Partners, in an amicable management buyout that is a sign of the times.

The management team of HSBC’s Asian private-equity arm has completed an amicable buyout of the business in a deal driven by regulatory uncertainty governing bank ownership of such entities.

Collectively, 17 former HSBC Private Equity Asia staff bought the business and started work yesterday under a new name Headland Capital Partners and in a building across town in Hong Kong’s central business district. An 18th person is understood to be joining the team early next year.

There are seven managing partners or senior partners in the new firm, with the rest working as partners. Together they own 80.1% of the business, while HSBC retains a 19.9% stake. Financial details of the transaction...

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