Blackstone buys HSBC’s A$36B Australian loans, a record global deal

Blackstone signed a definitive agreement to acquire HSBC Holdings’ Australian home and personal loan portfolio. The assets are valued at approximately A$36 billion (US$25 billion).

This acquisition represents the largest home loan portfolio transaction globally. The deal significantly expands Blackstone’s private credit operations in the Asia-Pacific region.

HSBC is divesting the portfolio to exit Australian retail banking and focus on core markets. Non-bank lender Pepper Money will manage the loans.

The transaction remains subject to regulatory approvals. Completion is expected in the first half of 2027.