GLOBAL: HSBC Financial Services (Middle East) has agreed to sell 80% of HSBC Private Equity Middle East (HPEME) to Havenvest Partners, a company set up by members of HPEME’s current management team.
HSBC will retain the remaining interest in HPEME, which has US$480 million-worth of funds under management.
The transaction is expected to be completed at the end of the second quarter of this year.