News analysis: HSBC spin-outHSBC is the latest global bank at which senior management in a captive private equity real estate business are separating out. It also is arguably the least well-known of them all.ByRobin Marriott24 January 2013•4 mins readDealsFundraisingInvestorsManagersPeopleAsia-PacificEuropeNorth AmericaOpportunisticFamily OfficeSovereign Wealth Fund