HSBC Asset Management has launched Horizon Private Equity, its first-ever evergreen strategy. With this new strategy, the firm is opening the door to a broader and more diverse group of investors—those who may have previously found private equity inaccessible due to rigid structures, long lock-up periods, or high entry thresholds.
Horizon is built on an open-ended framework, a notable departure from the traditional closed-ended private equity model that has long dominated the industry. This structure enables investors to maintain continuous exposure to high-quality private equity assets while benefiting from more frequent access to capital, shorter investment horizons, and a lower minimum commitment. In essence, Horizon is designed to offer the long-term value creation of private equity with the kind of flexibility and liquidity more commonly associated with public markets.
At the center of the strategy is a focus on secondary and co-investment opportunities—areas that allow for faster capital deployment and broader diversification. These types of investments often come with reduced blind pool risk and more immediate visibility into underlying assets, making them particularly attractive for investors seeking both performance and transparency.
Horizon’s portfolio already includes exposure to approximately 10,000 underlying companies, collectively valued at over $477 million. This expansive reach spans multiple sectors, including information technology, healthcare, consumer discretionary, and financial services, and is diversified across geographies and vintage years.
The strategy is anchored by HSBC’s own institutional capital, which not only reinforces the firm’s confidence in Horizon but also provides new investors with access to an already established and actively managed portfolio. This single-entry approach streamlines the investment process and provides immediate exposure to a diverse range of private market assets.
Horizon is being made available to eligible private wealth and institutional investors across the UK and Europe, Asia, and the Middle East. It complements HSBC Asset Management’s existing private markets offerings, including Vision, its closed-ended annual vintage series focused on private equity, impact investing, and venture capital. Together, these strategies reflect HSBC AM’s commitment to delivering innovative solutions that meet the evolving needs of investors in a rapidly changing financial landscape.
The management of Horizon falls under HSBC AM’s Private Markets team, a group of 31 seasoned professionals with an average of two decades of investment experience across North America, Europe, and Asia. This team is one of the largest discretionary investors globally in private equity, private credit, infrastructure, and venture capital. Their expertise spans primary, secondary, and co-investment strategies, and they operate within HSBC’s Alternative Solutions division—a business unit with nearly 30 years of experience managing open-ended hedge fund-focused vehicles.
The launch of Horizon is more than just a new product—it’s a strategic expansion of HSBC AM’s private markets capabilities. It builds on the firm’s recent momentum in alternatives, including the rapid growth of its alternative credit platform and the continued development of its real estate investment capabilities in Asia. By leveraging HSBC’s global network, the firm can offer investors access to a diverse range of alternative investment solutions, including hedge funds of funds, private markets, private debt, real assets, and venture capital.
KEY QUOTES:
“Evergreen strategies represent a significant evolution in private equity investing, pairing the long-term value potential of private markets with the flexibility and accessibility typically associated with liquid strategies.
“Through Horizon, we are excited to open the door to private equity for a broader set of investors, enabling them to participate in long-term value creation through a diversified, high-conviction portfolio.”
“Horizon is built on our deep expertise, global network and our commitment to delivering institutional-quality solutions that are more flexible, scalable, and aligned with investors’ evolving needs.”
William Benjamin, Head of Alternative Solutions at HSBC Asset Management
