HSBC Alternative Investments recruits JER man

The alternatives division of HSBC Private Bank has recruited Caleb Mercer to its real estate fund management business as it seeks further prime assets.

HSBC Private Bank has recruited former JER Partners professional, Caleb Mercer, for its alternatives division, HSBC Alternative Investments Limited (HAIL).

Mercer, who worked in JER Robert’s European acquisition team for 10 years, has been appointed as associate director reporting to Paul Forshaw, head of real estate fund management, the bank said today. 

In the statement, Forshaw said the new recruit would assist the real estate fund management division’s strategy of investing in “high quality, stable assets in key global locations.”

Recent property deals by HAIL include the acquisition of a 49 percent stake in 1540 Broadway, Times Square, New York, from CBRE Investors. The prime property measures 907,000 square feet and is 44-stories high. That purchase followed a $200 million deal to buy a prime property in Washington last May.

HAIL manages around $28 billion of assets in hedge funds, private equity and real estate.

The firm started out in 1995 by managing a fund of hedge funds, but currently manages mandates and fund of funds for HSBC Group as well as real estate and private equity funds for the HSBC Global Private Banking. This is different to HSBC Specialist Investments Limited (HSIL) the part of HSBC that purely manages infrastructure and real estate funds and is close to completing a senior management-led buyout.