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Australian BNP Paribas and Fortis Investments merger complete
The Australian merger of BNP Paribas Investment Partners (BNPP IP) and Fortis Investments has created the 14th largest fund manager in the local market with assets under management of $24.2 billion.
The fund manager, now named BNP Paribas Investment Partners Australia, will be led by chief executive Robert Harrison.
The merger follows the global merger of BNPP IP and Fortis Investments on April 1.
Harrison said BNPP IP’s platform had been strengthened locally with new capabilities from Fortis Investments, such as Australian equities and global real estate.
“In turn, these products will benefit from having access to BNP Paribas’ extensive distribution platform, best practice governance and capital adequacy through the strength of the BNP Paribas balance sheet,” he added.
BNPP IP retains a 40 per cent share in Arnhem Investment Management, formerly known as Fortis Investment Partners, which has become one of global BNPP IP’s 25 specialist partners.
BNPP IP’s partner network now also comprises BNP Paribas Asset Management, Fischer Francis Trees and Watts, Overlay Asset Management, Fauchier Partners, Impax, and Antin Infrastructure Partners.
BNPP IP in Australia and New Zealand also have strategic distribution alliances with Massachusetts Financial Services and Hamilton Lane.
AUTHOR
Mike Taylor
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