Blackstone agrees to buy HSBC’s Australian home and private loan portfolio
Blackstone Group has agreed to acquire an Australian housing and private loan portfolio worth about A$36 billion, or about $25 billion, from HSBC Holdings. The deal will help Blackstone expand its credit and insurance businesses in the Asia-Pacific region and is expected to close in the first half of next year. As part of the transaction, Pepper Money Ltd. will handle customer servicing for the loan portfolio.