HSBC weighs foray into private credit

HSBC is preparing a foray into the white-hot market for private credit, five sources with knowledge of the plans said, the latest move by a global bank to get in on the booming sector.

- Lawrence White, Sinead Cruise & Stefania Spezzati

HSBC's plan, reported here for the first time, shows how the bank is looking at ways to increase revenue after months of restructuring, job cuts and its biggest retrenchment from investment banking in decades.

HSBC has held talks with private credit firms about a potential partnership, two of the sources said, without identifying them. The talks are at various stages and there can be no certainty that they will lead to a formal partnership, the sources said.