HSBC Taps Pete Scott to Lead Venture Debt Charge

HSBC Asset Management (HSBC AM) has appointed Pete Scott as Head of Innovation Credit, marking a significant step in its expansion into the venture debt market. With over 30 years of industry experience, Scott brings a wealth of expertise to his new role, which involves leading HSBC AM's new venture debt strategy. This move aligns with HSBC's broader goal of growing its alternatives capabilities, which include private markets, private credit, hedge funds, real assets, venture capital, and flexible capital solutions.

HSBC AM's venture debt strategy will focus on investing in senior secured loans to growth and late-stage VC-backed tech and life science companies. By tapping into HSBC Innovation Banking's extensive origination platform and global presence in key innovation hubs, HSBC AM aims to provide clients with access to the expanding venture debt market and another stream of proprietorial HSBC-originated credit transactions.

Scott, who will be based in San Francisco, is responsible for building HSBC AM's venture debt team and bringing a product to market that scales up fast-growing, venture capital-backed businesses. His appointment signals HSBC's commitment to expanding its alternatives credit product suite and leveraging its global network to invest in promising start-ups.

"His experience working with start-ups across the US, and globally, will prove invaluable as we provide our clients access to the expanding venture debt market and another stream of proprietorial HSBC originated credit transactions," said Scott McClurg, Head of Private Credit at HSBC AM.

HSBC Innovation Banking's CEO for the UK, Simon Bumfrey, echoed this sentiment, stating that establishing this venture debt capability with HSBC Asset Management expands the breadth of flexible solutions the bank has to meet the financing needs of the innovation ecosystem.

The venture debt market has seen significant growth in recent years, driven by the increasing number of start-ups and venture capital investments. As the market matures, there is a growing demand for flexible financing solutions that cater to the unique needs of tech and life science companies. HSBC AM's new venture debt strategy is well-positioned to capitalize on this demand, leveraging the bank's global presence and expertise in innovation banking.



In conclusion, HSBC AM's appointment of Pete Scott to lead its new venture debt strategy demonstrates the bank's commitment to expanding its alternatives credit product suite and meeting the financing needs of the innovation ecosystem. With Scott's extensive industry experience and HSBC's global network, the bank is well-equipped to navigate the dynamic venture debt market and provide clients with access to attractive investment opportunities.

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