Blackstone is set to acquire HSBC’s Australian loan portfolio, valued at 26 to 30 billion Australian dollars, equivalent to approximately 17 to 20 billion US dollars. The portfolio consists primarily of performing prime mortgages and credit card receivables from HSBC’s retail banking operations in Australia. HSBC launched a strategic review in 2025 to streamline its global operations and free up capital, ultimately deciding to separate its loan book from its deposit base rather than selling its entire Australian retail business outright. Citi is advising HSBC on the transaction, while Morgan Stanley is representing Blackstone. This deal represents one of the largest private credit acquisitions of a traditional bank’s consumer lending assets, highlighting the growing trend of private credit funds diversifying beyond corporate lending into residential mortgages and retail receivables.
Source: Read the original article
