HSBC Drags Feet on $4 Billion Private Credit Investment Effort

HSBC Holdings Plc is yet to make material headway in plans to invest as much as $4 billion into its asset manager’s private credit funds, according to a spokesperson.

The bank said last year it had earmarked that sum to grow the funds and muscle further into the $1.8 trillion asset class, which has so far been dominated by global alternatives managers such as Blackstone Inc. and Apollo Global Management Inc. However, the Asia-focused lender is still keeping its powder dry.