Blackstone Buys HSBC’s A$36 Billion Australian Home Loan Portfolio
Blackstone is acquiring a roughly $25 billion home loan portfolio from HSBC in Australia, a deal structured through Blackstone’s Virgo Bidco Pty Ltd. The transaction ranks among the largest mortgage portfolio purchases in the country’s history.
The portfolio comprises about A$36 billion in home and personal loans and is scheduled to close in the first half of 2027. HSBC expects the sale to generate an immaterial loss for the banking group.
From the sources (2 posts)
@businessBlackstone has agreed to acquire an about $25 billion home loan portfolio in Australia from HSBC, people familiar with the matter said, in what’s set to be one of the largest such transactions ever
@firstsquawkHSBC WILL SELL AN A$36 BLN AUSTRALIAN HOME AND PERSONAL LOAN PORTFOLIO TO BLACKSTONE'S VIRGO BIDCO PTY LTD, A DISPOSAL EXPECTED TO GENERATE AN IMMATERIAL LOSS FOR THE HSBC GROUP AND TO COMPLETE IN H1 2027 - SOURCES