HSBC launches private equity business for the Middle East

The new business will form part of HSBC Financial Services (Middle East) Limited. David Knights and David Price of Redwood have joined HSBC as Investment Banking Directors.

HSBC's global private equity business is a core part of the group's investment banking activities. With significant private equity operations in Europe, Asia and the Americas, HSBC Private Equity has been responsible for over US$2 billion of investments globally in more than 500 companies.

The decision to set up a dedicated private equity business in the Middle East reinforces HSBC's commitment to growth and investment in the region.

Andrew Dixon, Deputy Chairman of HSBC Middle East Bank said, "There is a rapidly increasing demand for private equity in the region, for instance to finance acquisitions, restructuring and expansion projects. We are well placed to take the lead in providing structured private equity, which will not only support our corporate clients' growth and future development, but it will also help to stimulate their local economies as well."

David Knights and David Price have a successful track record over several years of structuring, managing and realizing private equity investments in the Gulf.

Knights added, "HSBC has a very real commitment to capital investment in the region, and the ability through its extensive network and client base to make it happen. It has an appreciation of the market that few other international firms can match. A strong commercial banking franchise allied to a growing investment banking capability enables it to meet client needs across a range of services and geographic territories."