HSBC Capital (USA) Inc. is an investment arm of HSBC Holdings plc specializing in buyouts, recapitalizations, real estate development and acquisitions, change of ownership transactions, corporate divestitures, industry consolidations, mezzanine, and expansion capital investments. The firm does not invest in startup and venture capital. It prefers to invest in manufacturing, services, and distribution sectors. The firm typically invests in the smaller end of middle market companies based in U.S. It seeks to invest between $3 million and $15 million in companies having enterprise values between $20 million and $75 million, minimum revenues of $10 million, and EBITDA margin of 10 percent or higher. The firm acquires both control and minority stakes in its portfolio companies. It seeks to take board membership or observation rights in its portfolio companies. The firm prefers to exit its private equity investments within three years and six years and its mezzanine investments within six years. It seeks to exit its private equity investments through a strategic sale, merger, refinancing, repurchase, or public offering. The firm exits its mezzanine investments through repayment at maturity. HSBC capital (USA) Inc. was founded in 1991 and is based in New York, New York.