HSBC Asset Management (HSBC AM) has boosted its investment capabilities in alternatives, with the hiring of a climate technology team.
It has appointed Christophe Defert as head of Climate Technology Venture Investments, and Michael D’Aurizio as investment director of Climate Technology.
The team will develop a venture capital investment strategy providing clients with opportunities to invest globally in technology startups that are addressing the challenges of climate change.
The strategy will focus on companies across the energy, transportation, insurance, agriculture and supply chain sectors. The first fund is planned to be launched before the end of the year with an intended cornerstone investment from HSBC.
Mr Defert has over 16 years of experience in investment banking, private equity, corporate M&A, energy contracts and venture capital. Before joining HSBC AM. He has spent 10 years at Centrica where he most recently built and led Centrica Innovations’ Venture effort globally.
Mr D’Aurizio has over 10 years’ experience in power, utilities, and clean energy including business strategy and venture capital, and previously led Centrica Innovations’ US activities.
Joanna Munro, Global CIO, HSBC Asset Management, commented: “Technology will play a major role in enabling the energy transition, funded by public money, private capital and philanthropic commitments like HSBC’s Climate Solutions Partnership with the World Resources Institute and WWF. The appointment of this team will allow us to provide clients with early exposure to sectors which are just emerging as such, but will become major sources of financial and environmental value over the decade.”
The team will report to Remi Bourrette, head of Venture and Growth Investments, who joined the firm last year from HSBC Global Banking and Markets.
In 2020, HSBC Asset Management set out its strategy to re-position the business as a core solutions and specialist emerging markets, Asia and alternatives focused asset manager, with client centricity, investment excellence and sustainable investing as key enablers. The firm currently manages $45 billion in alternatives strategies.
