(Wall Street Journal) — HSBC Holdings PLC (HBC) said Friday that it will likely sell its private equity fund management businesses in Hong Kong, the U.K., the U.S., Canada and the Middle East to the respective management teams. The move comes as banks around the world face regulatory changes that could include limits in ownership of hedge and private-equity funds or an increase in costs for holding such assets. The five private-equity businesses being bought out have about $8.8 billion in funds under management. About 20% are HSBC’s own money. No financial terms of the deals were disclosed.
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