Banking major HSBC is looking to sell its private equity fund management businesses in five regions, including the U.S. and Hong Kong. HSBC on Friday said it was in “discussions with the management teams of its private equity fund management businesses in Hong Kong, UK, USA, Canada and the Middle East.” These talks are expected to lead to five separate management buyouts, HSBC said in a statement.
The move comes in the backdrop of many countries planning for strict financial sector regulations, mainly aimed at preventing financial crises in the future.
Globally, financial entities are bracing up for tougher rules, especially in their hedge fund and private equity fund businesses, which could include caps on ownership stakes.
