HSBC Private Equity (Asia), a venture capital (VC) and leveraged buyout asset manager owned by UK-listed bank HSBC, has become independent and been renamed Headland Capital Partners.
HSBC retained 19.9% of Headland, with its management led by George Raffini (pictured) the remainder. Headland manages $2.4bn, including a $230m VC fund raised last year and $1.34bn in its sixth buyout fund that closed in 2008.