BNP Paribas Asset Management acquires fund of hedge funds business

BNP Paribas Asset Management is to acquire the Javelin fund of hedge funds business currently owned by ZCM Investor Capital, the US subsidiary of Swiss group Zurich Financial Services.

The Javelin fund has assets under management of $650 million and is a four year old, multi-strategy, multi-manager leveraged fund currently based in New York. BNP Paribas said the fund has a diversified client base in Europe and Asia.

The deal will involve the transfer of the fund to the management of BNP Paribas Fauchier Partners (BNP PFP), a subsidiary of the French bank specialising in funds of hedge funds. This will include the transfer of the funds office and four fund managers to London where BNP PFP is based. They will report to Bernard Dennery, managing director of BNP PFP, who said he expects the move to occur in mid June. This will ensure continuity of product management and complement the expertise of the existing team, the bank said.

On completion of the deal BNP PFP will have $1.9 billion of assets under management. BNP Paribas said it expects the deal to be concluded within about a month. It expects Javelin to be one of the main vehicles for the issuance of its structured products, it added.

Dennery said BNP PFP was attracted to Javelin because of investor interest in leveraged products, and because of the fund's strength in the Asian market.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Stemming the tide of rising FX settlement risk

As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here