BNP Paribas partners with Permal on alternatives
BNP Paribas Investment Partners Australia (BNPP IP) has brokered an exclusive deal with global alternatives asset manager Permal Group.
In March Permal acquired BNPP IP's Fauchier Partners, now Jubilee Advisers, allowing it to grow into one of the largest alternative investors with ground teams located around the world.
"With scale becoming an increasingly important aspect of investing in hedge funds, Australian investors can now benefit from the strength of Permal's purchasing power, as well as their decades of experience in manager selection, asset allocation and risk management," BNPP IP Australia chief executive David Grybas said.
Investors can access Permal and Jubilee funds through BNP IP as well as its hedge fund business, which allows customisation of products to specific risk-and-return objectives.
Permal's managed account platform holds US$7 billion and is exclusive to Permal clients.
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