HSBC’s decision to exit Australian retail banking and sell a roughly A$36b mortgage book to Blackstone puts alternative asset managers firmly in the spotlight. Large pools of loans are shifting out of traditional banks and into specialist investment platforms, which can reshape risk, fees, and income profiles for listed stocks. For investors, that raises the question of which companies might gain from this transfer of assets and servicing relationships, and which might face headwinds. This article breaks down how the development ties back to alternative asset managers and outlines 3 stocks that appear to have positive exposure to the news.

Silvercrest Asset Management Group (SAMG)

Overview: Silvercrest Asset Management Group is a New York based wealth manager that provides investment advisory and family office services to ultra high net worth families, their trusts, and select institutions, including endowments and foundations. It also runs funds of funds and other pooled investment vehicles tailored to this client base.

Operations: Silvercrest generates about US$125.3 million in revenue from investment management in the United States.

Market Cap: US$118.2 million

Silvercrest Asset Management Group offers targeted exposure to the shift toward alternative assets among wealthy clients, which aligns with moves such as HSBC’s A$36b mortgage sale to Blackstone that illustrate how capital is migrating into specialist platforms. The stock combines a relatively small market cap with a focus on ultra high net worth clients, while recent quarters indicate pressure on margins, earnings, and fee rates as costs rise and assets move toward lower fee mandates. A high dividend yield and past buybacks indicate an income and capital return profile, yet leverage, earnings volatility, and slower revenue growth underline the associated risks. This combination of positives and pressures may be relevant for investors with a long term perspective.

Silvercrest’s income and buyback record sit beside margin pressure and fee strain, which can be easy to miss at a glance. Get the full picture in the 2 key rewards and 2 important warning signs (1 is major!)

Man Group (LSE:EMG)

Overview: Man Group is a long established global investment manager that runs hedge funds, private credit and other alternative and long only strategies across equities, real estate, credit, currencies, commodities and more for institutional and private clients. It builds both quantitative and discretionary products that are distributed worldwide through institutions and a network of intermediaries.

Operations: Man Group generates about US$1.7b in revenue from its Investment Management Business.

Market Cap: £3.5b

Man Group provides focused exposure to alternative asset managers as banks such as HSBC pull back from areas like Australian retail mortgages and investors look for institutional grade solutions instead. The company is leaning into demand for hedge funds, private credit and systematic strategies, supported by technology investment and an institutional client base that, according to management, avoids retail liquidity mismatch. Earnings have recently been strong, with 1 year growth of 75.7% and net profit margin at about 19.2%, yet the track record over 5 years is more volatile and the dividend history is uneven. Funding fully through external borrowings and pressure on fee margins mean the risk side of the story is an important consideration alongside the potential upside.

Man Group’s recent earnings jump and 19.2% net margin suggest there may be more under the surface than a typical asset manager. See how the full 3 key rewards and 1 important warning sign might change your view.

Hamilton Lane (HLNE)

Overview: Hamilton Lane is a global private markets investment manager that builds and runs private equity and private credit solutions for institutions and wealth clients, allocating capital into buyouts, growth equity, venture, infrastructure, real assets and co investments across multiple regions.

Operations: Hamilton Lane generates about US$759.0 million in asset management revenue, with roughly US$310.4 million from the United States and US$448.6 million from other countries.

Market Cap: US$4.9b

Hamilton Lane gives you direct exposure to the broad shift toward private markets as investors look beyond traditional banks, a trend highlighted by deals such as HSBC’s A$36b mortgage sale to Blackstone. The company combines high fee related profitability, a strong pipeline in evergreen and specialized funds, and expanding global distribution to institutional and high net worth clients. Its technology offerings add another recurring revenue stream. At the same time, you need to weigh fee pressure, heavier regulation across multiple jurisdictions and reliance on external funding. For investors who want to understand how those trade offs stack up, the full Hamilton Lane story goes well beyond a simple growth label.

Hamilton Lane’s private market engine and tech driven fees could be masking the real story investors care about. See how the analyst forecasts for Hamilton Lane frames the potential upside and the one risk that might change the picture.

The three stocks in this article are just a starting point, as the full screener flags 18 more alternative asset managers with equally compelling narratives in the Alternative Asset Managers screener. Use Simply Wall St to identify and analyze the exact catalysts and narratives that matter to you so you can focus on the highest conviction ideas in this theme.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.