British multinational bank HSBC’s private equity and hedge fund arm HSBC Alternative Investments Ltd (HAIL) has hired Kutty Dutta as a director, as per his LinkedIn update. Dutta quit private equity firm Coller Capital in December last year where he was an investment manager. He continues to be based out of London.
The development was first reported by online news service Financial News.
Dutta was associated with Coller Capital, a secondaries-focused PE firm, for over seven years. At HAIL, Dutta will be responsible for the origination and due diligence of secondary, primary and co-investment opportunities for the firm’s private and institutional clients.
He will report to Simon Jennings, who joined HSBC as global head of private equity in 2011.
An INSEAD alumnus, Dutta began his career at emerging-markets-focused bank Standard Chartered, and has also worked as an analyst at investment bank Morgan Stanley. Before joining Coller Capital, Dutta served as head of development at London-based asset manager Invicta Capital.
HAIL is responsible for creating hedge fund, real estate and private equity solutions for both private and institutional clients. It managed or advised on assets worth more than $28 billion as of June 30, 2013.
A few years ago the Asia unit had moved out of the unit. The management team at HSBC Private Equity (Asia) Ltd, the private equity arm of HSBC Group Holdings PLC, had bought out the PE business from the bank and renamed it Headland Capital Partners Ltd.
(Edited by Joby Puthuparampil Johnson)