HSBC comes to market with NY distressed debt offering

HSBC Halbis Partners is offering a distressed debt fund. The HSBC Distressed Opportunity fund, man...

HSBC Halbis Partners is offering a distressed debt fund. The HSBC Distressed Opportunity fund, managed out of New York by Kim Golden aims to generate absolute returns with low volatility. The portfolio was backed at launch by $50m (£27.63m) of HSBC investment capital. Golden, who will be assisted on the fund by Noel Hebert, already manages distressed debt strategies in the HSBC multi-strategy portfolio and the new vehicle will mirror opportunities employed in this fund. Golden, who is also the managing director at HSBC Halbis Partners, said: "The default rate in the distressed marke...