UK/FRANCE – BNP Paribas Asset Management (BNP PAM) and London based hedge fund specialist firm, Fauchier Partners, have announced the establishment of a joint venture company to manage all of BNP PAM’s hedge funds.
The company, to be called BNP Paribas Fauchier Partners Ltd, is the first stand alone operation of its kind in Europe and will be based in London. It will take care of all of BNP PAM’s existing hedge funds as well as developing new products for both institutional and private clients worldwide.
The new company is a major element of BNP PAM’s plans to penetrate the alternative management area.
Gilles Glicenstein, managing director of BNP PAM says : “We have chosen this innovative solution because we believe that a separate entity will enable us to combine the entrepreneurial approach which is crucial to the success of hedge fund management. “