HSBC has announced it is selling its $36 billion Australian home and personal loan portfolio to private equity giant Blackstone. HSBC has announced it is selling its $36bn Australian home and personal loan portfolio to private equity giant Blackstone, as it winds down its Australian retail arm over the next 18 months. In a statement, HSBC announced Pepper Money Ltd would act as the servicer of the home loan portfolio following the completion of the sale to provide "ongoing support to customers and brokers". HSBC has announced its Australian retail banking arm will be wound down, amid the sale of its $36bn home and personal loan portfolio to Blackstone. Picture: AFPThe remainder of HSBC Australia's retail business will be wound down over the next 18 months, the company announced.