HSBC supports Saudi Arabia’s growing private markets with expanded product suite

HSBC Saudi Arabia has expanded its existing fund administration capabilities to include private assets, in a move that supports the rising allocation of asset owners, asset managers and financial sponsors towards private markets. 

For more than two decades, HSBC has been a leading provider of fund administration services to Saudi Arabia domiciled funds. As investors worldwide diversify into private markets, Saudi Arabia’s asset managers are evolving their offerings to cater for increased demand. 

With the inclusion of private asset solutions on its platform, HSBC becomes one of the few global institutions in the Kingdom to offer fund administration for clients investing in both traditional and private assets. Globally, HSBC provides servicing for over US$165 billion in private assets today across a number of fund jurisdictions. 

Faris AlGhannam, Chief Executive Officer and Board Member, HSBC Saudi Arabia said: “Saudi Arabia’s public and private markets are evolving at pace. Expanding our fund administration capabilities will directly address the needs of our institutional clients in the Kingdom, who are increasingly diversifying their exposure to include private assets.” 

Saudi Arabia’s asset management sector has expanded rapidly in line with the Kingdom’s economic transformation. Now the largest in the MENA region, Saudi Arabia‘s asset management industry grew 12 percent annually from 2015 to 2024, with total assets reaching nearly US$295 billion by the first quarter of 2025, according to S&P Global.