HSBC Alts. Adds Kaupthing’s Forshaw For Real Estate Push

Feb 19 2010 | 9:18am ET

HSBC Private Bank’s hedge fund division is strengthening its real estate group as it embarks on an effort to buy up properties in the Northeast’s biggest cities.

Chris Allen, head of HSBC Alternatives, has been named CEO of the group, which manages $31 billion in hedge fund assets. HAIL has also added Paul Forshaw as head of real estate fund management.

In his new post, Forshaw has been charged with creating and implementing a real-estate strategy for HAIL.

Forshaw joins HSBC from Kaupthing Investment Bank, where he was part of a real estate proprietary trading team.

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