HSBC to divest INKA fund administration business to BlackFin
HSBC Continental Europe has announced the divestment of its fund administration business, Internationale Kapitalanlagegesellschaft (INKA), to a fund managed by BlackFin Capital Partners.
This move, revealed in October 2024, is part of HSBC’s simplification strategy aimed at streamlining operations and enhancing its position as a leading corporate and institutional bank in Germany and Europe.
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The potential transaction, is expected to finalise in the second half of 2026, pending regulatory and anti-trust approvals and discussions with HSBC Germany’s Works Council.
Importantly, all INKA employees will remain with the company upon its transfer to BlackFin, ensuring a seamless transition for clients and staff.
As of December 2024, INKA, a subsidiary of HSBC Germany, manages approximately €430bn ($579.9) in assets.
BlackFin, a pan-European private equity firm active in Germany since 2013, is well-positioned to drive INKA’s future development, according to the company.
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By GlobalDataThe divestment aligns with HSBC’s focus on strengthening its market leadership in areas with competitive strength and growth potential, particularly for European clients through its global network.
The bank plans to prioritise its Securities Services division operations in Asia and the Middle East while continuing to provide top-tier custody and fund services in the UK and Europe from hubs in London, Ireland, and Luxembourg.
HSBC Continental Europe, headquartered in Paris, is a subsidiary of HSBC Holdings, offering corporate and institutional banking, private banking, insurance, and asset management across ten European branches and two banking subsidiaries in Luxembourg and Malta.
In May this year, HSBC announced plans to cut 348 jobs in France, about 10% of its workforce, as part of a cost-saving initiative aimed at achieving $1.8bn in savings by the end of 2026, according to Reuters.
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