HPEF Capital's team began advising Asian private equity funds in 1989 and operated its business as HSBC Private Equity (Asia) Limited (HPEA) until 2010. HPEF Capital is among the longest established private equity firms within Asia, having advised six Asian regional private equity funds during its history. During 2010, HPEF Capital’s senior executives completed the management buyout of the business by acquiring 80.1% of HPEA and re-naming the company Headland Capital Partners Limited. The senior management acquired the balance of HPEF Capital from HSBC in May 2015. The company changed its name to HPEF Capital Partners Limited in June 2016.