HSBC Eyes Blackstone's Fund Of Funds Throne

May 7 2012 | 2:48pm ET

HSBC Holdings' fund of hedge funds chief is going after the industry's leader.

Peter Rigg said his HSBC Alternative Investments could surpass the Blackstone Group as the world's largest fund of funds manager. Blackstone is currently about one-third larger than HSBC, with about $10 billion more in assets under management.

But HSBC "could get there" and has "the ability and people to get there," Rigg told HFMWeek.

"We really want to find people who are real specialists in their field, possess the right incentives and psychological profile and can beat their peers," he said. "We won't invest in anything which is not very tight on the operational side, especially with newer managers which are started by very small numbers of people."

HSBC AI currently has $29.8 billion in fund of funds assets.


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Often seen as a passion project, or part of a philanthropic venture, rare and fine stringed instruments offer an exciting option to diversify one’s investment portfolio while providing an opportunity for an exceptional long-term investment.