Bridges Fund Management has partnered with HSBC Asset Management to establish a dedicated climate growth platform, acquiring an experienced team to accelerate investments in innovative decarbonisation and resilience technologies across Europe and North America.
When a London-based impact investor sought to move more decisively into earlier‑stage climate technology, it opted to bring an established team into its fold rather than recruit from scratch. Bridges Fund Management has welcomed the climate growth and venture group from HSBC Asset Management to form Bridges Climate Transition Partners, a transatlantic platform that will continue managing an existing fund and seek a successor vehicle of about €200 million, according to ImpactAlpha and reporting from Environmental Finance.
The team, led from London by Christophe Defert and from New York by Mike D’Aurizio, arrives with an active portfolio of 11 companies and more than a decade of working together, the reports say. HSBC AM will remain a limited partner in the current fund and has committed to anchor the new vehicle, preserving the bank’s exposure to climate growth equity while offloading day‑to‑day management to a specialist investor.
“Investing in innovative climate technologies is one of the most powerful ways to achieve positive impact at scale,” said Michele Giddens, CEO and cofounder of Bridges, in announcing the arrangement. Bridges, a certified B Corporation co‑founded by Sir Ronald Cohen that manages multiple private markets strategies, intends the new team to source and back Series A and B opportunities focused on the energy transition, sustainable manufacturing and climate resilience across Europe and North America.
Defert has characterised the move as a better long‑term home for a specialist climate growth strategy than a generalist global bank platform. Reporting indicates that a strategic review at HSBC prompted the decision to concentrate internal resources on core banking activities such as private credit, opening the door for the transfer. Joanna Munro, head of alternatives at HSBC Asset Management, said the bank’s continuing partnership with Bridges will help scale the strategy while safeguarding existing investors.
The transaction exemplifies a growing pattern in private markets and impact investing: acquiring or “spinning in” intact teams to accelerate capability rather than building new departments internally. Smaller specialist managers, facing fierce competition for talent and tougher fundraising dynamics, are increasingly merging expertise into larger platforms. Industry moves cited by market sources include Redwheel’s recruitment of an energy transition trio from EM Impact Capital and broader industry consolidation such as BlackRock’s earlier purchases of energy and infrastructure franchises and Schroders’ stake in Greencoat Capital.
Bridges plans to position the climate growth platform downstream of its Sustainable Growth strategy, focusing on earlier growth rounds with cheque sizes intended to complement the firm’s larger growth‑stage investments. The manager expects to widen the investor base for the successor fund beyond the family offices and corporates that backed the initial vehicle to include institutional investors such as pension funds, insurers and asset managers, according to coverage by Environmental Finance, Impact Loop and ESG Today.
The deal leaves Bridges with an expanded private equity pipeline and HSBC with continued exposure as an anchor investor, while offering the climate team a specialist home intended to accelerate deployment of capital into commercially scalable technologies that decarbonise industry and build resilience. Industry commentary suggests such tie‑ups may become more frequent as firms seek both scale and specialised expertise in the fast‑evolving climate investment market.
- https://impactalpha.com/why-bridges-is-spinning-in-hsbc-ams-climate-investment-team/ – Please view link – unable to able to access data
- https://www.bridgesfundmanagement.com/ – Bridges Fund Management is a London-based sustainable and impact investment firm co-founded by Sir Ronald Cohen. The firm focuses on investing in solutions that help decarbonise the economy and enable more people to fulfil their potential. Their investment strategies include property, private equity, and outcomes partnerships, aiming to deliver attractive returns alongside measurable positive impact. Bridges has raised over £1.7 billion across multiple private markets strategies and has been a certified B Corporation since 2015, reflecting its commitment to social and environmental performance.
- https://www.environmental-finance.com/content/news/hsbc-climate-tech-team-joins-bridges-to-explore-200m-fund.html – Environmental Finance reports that HSBC Asset Management’s climate technology team, led by Christophe Defert and Mike D’Aurizio, has joined Bridges Fund Management to form Bridges Climate Transition Partners. This new platform aims to back scalable, commercially proven climate tech companies across Europe and North America. The team will continue managing the existing Climate Growth Partners fund and plans to raise €200 million for a successor fund. HSBC Asset Management remains a limited partner and intends to anchor the new fund, supporting the scaling of this strategy.
- https://www.impactloop.com/artikel/exclusive-hsbc-s-climate-venture-team-joins-impact-firm-and-eyes-new-eur200m-fund – Impact Loop reports that HSBC Asset Management’s Climate Growth Partners team, led by Christophe Defert and Mike D’Aurizio, has joined Bridges Fund Management to form Bridges Climate Transition Partners. The team plans to launch a €200 million climate tech fund, with HSBC Asset Management confirmed as an anchor investor. The existing Climate Growth Partners fund, which has made 11 investments to date, will continue under the new platform. The move aligns with Bridges’ mission to support the transition to a more sustainable, resilient future.
- https://www.esgtoday.com/hsbc-climate-tech-team-joins-sustainable-investment-firm-bridges/ – ESG Today reports that HSBC Asset Management’s climate technology team, led by Christophe Defert and Mike D’Aurizio, has joined Bridges Fund Management to launch Bridges Climate Transition Partners. The new platform will continue managing the existing Climate Growth Partners fund, with HSBC Asset Management remaining a limited partner and planning to anchor a future successor fund. The team will focus on backing scalable, commercially proven European and North American technology companies in areas like energy transition, sustainable manufacturing, and climate resilience.
- https://www.assetmanagement.hsbc.com/en/institutional-investor/news-and-insights/hsbc-am-bolsters-sustainability-and-responsible-investing – HSBC Asset Management announced the appointment of Fatima Hadj as Climate Investment Strategist and Laëtitia Tankwe as Head of Sustainability Implementation & Assurance. Fatima Hadj will lead HSBC AM’s climate change strategy, ensuring climate considerations are embedded across its investment platform. She brings over 20 years of experience in scaling businesses across financial services and supporting businesses to consider ESG factors from a risk and impact perspective. Laëtitia Tankwe will focus on sustainability implementation and assurance within the firm.
- https://www.assetmanagement.hsbc.co.uk/en/institutional-investor/about-us/responsible-investing/-/media/files/attachments/uk/common/tcfd-hamf-report-2025 – HSBC Asset Management’s report outlines how its products incorporate climate-related risks and opportunities. The firm offers a range of sustainable investment products across asset classes, including equities, fixed income, liquidity, discretionary, and alternatives. In 2024, HSBC AM launched 12 new ESG and sustainable strategies, aiming to support net zero goals. The report details the firm’s climate strategies, including Paris Aligned strategies that seek to support net zero goals, and discusses the development of ESG and sustainable fund strategies.
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
8
Notes:
The news of Bridges Fund Management integrating HSBC Asset Management’s climate investment team was first reported on 3 March 2026. ([bridgesfundmanagement.com](https://www.bridgesfundmanagement.com/category/private-equity/climate-transition-partners/?utm_source=openai)) The article was published on 11 March 2026, indicating a timely reporting of the event. However, the content appears to be based on a press release, which may limit its originality. ([bridgesfundmanagement.com](https://www.bridgesfundmanagement.com/category/private-equity/climate-transition-partners/?utm_source=openai))
Quotes check
Score:
6
Notes:
The article includes direct quotes from Michele Giddens, CEO of Bridges Fund Management, and Joanna Munro, head of alternatives at HSBC Asset Management. While these quotes are attributed, they cannot be independently verified through other sources, raising concerns about their authenticity. ([bridgesfundmanagement.com](https://www.bridgesfundmanagement.com/category/private-equity/climate-transition-partners/?utm_source=openai))
Source reliability
Score:
7
Notes:
The article originates from ImpactAlpha, a news outlet focusing on impact investing. While it is a niche publication, it is known within its sector. However, the reliance on a press release as the primary source may affect the independence and reliability of the information presented. ([bridgesfundmanagement.com](https://www.bridgesfundmanagement.com/category/private-equity/climate-transition-partners/?utm_source=openai))
Plausibility check
Score:
8
Notes:
The integration of HSBC Asset Management’s climate investment team into Bridges Fund Management aligns with industry trends of consolidation in the climate investment sector. The reported details are consistent with known industry practices. However, the lack of independent verification of key claims, such as the specific terms of the integration and future plans, raises questions about the completeness and accuracy of the information. ([bridgesfundmanagement.com](https://www.bridgesfundmanagement.com/category/private-equity/climate-transition-partners/?utm_source=openai))
Overall assessment
Verdict (FAIL, OPEN, PASS): FAIL
Confidence (LOW, MEDIUM, HIGH): MEDIUM
Summary:
The article reports on the integration of HSBC Asset Management’s climate investment team into Bridges Fund Management, a development first reported on 3 March 2026. ([bridgesfundmanagement.com](https://www.bridgesfundmanagement.com/category/private-equity/climate-transition-partners/?utm_source=openai)) While the content is timely, it is based primarily on a press release, which may limit its originality and objectivity. The inclusion of direct quotes that cannot be independently verified further diminishes the credibility of the information. The reliance on a single source without independent verification raises significant concerns about the accuracy and reliability of the reported details. Given these factors, the article does not meet the necessary standards for publication under our editorial guidelines. ([bridgesfundmanagement.com](https://www.bridgesfundmanagement.com/category/private-equity/climate-transition-partners/?utm_source=openai))