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HSBC to invest in new AEA private equity fund
29 May 2002
HSBC Holdings plc (HSBC) and AEA Investors Inc. (AEA) have agreed in principle that HSBC will invest up to US$750 million over the next five years in a new US$1 billion plus private equity fund currently being organised by AEA.
This new investment enhances HSBC’s existing involvement in the private equity sector through entry to the US private equity market. AEA was established in 1968. AEA is a well respected private equity firm with a successful investment track record over 30 years. Its prestigious investor group includes approximately 100 current and former CEOs of leading corporations and important industrial families from around the world.
HSBC will be a limited partner in the new AEA fund. AEA will serve as the general partner of the fund and will remain an independent private equity fund manager. The primary investment focus for AEA’s new fund will be to acquire businesses in the US, but opportunities in Europe will also be pursued.
HSBC’s private equity activities and interests in Europe will continue to be conducted through HSBC Private Equity Limited. HSBC is reviewing arrangements with HSBC Private Equity Limited to ensure that it continues to develop its European business effectively. HSBC’s private equity interests in Asia, the Middle East and Latin America are not affected by these developments.
Notes to Editors
AEA Investors Inc. With offices in New York and London, AEA is one of the most experienced private equity firms in the world.
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