08:06 AM EDT, 06/02/2025 (MT Newswires) -- HSBC ( HSBC ) will allocate $4 billion to its private credit funds, Reuters reported Monday, citing an interview with Nicolas Moreau, chief executive of the company's asset management business.

"It's an arms race," he said, according to Reuters.

Moreau said the new funds will initially target clients in the UK and Asia, the report said.

The move is part of a strategy to shift business toward higher revenue areas such as private credit instead of traditional lending, the report said.

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