The partnership will allow Australian investors to access Permal alternative funds and additional customised portfolio through the asset management business of the BNP Paribas Group.
“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,” BNP Paribas IP Australia chief executive David Grybas said.
“Permal is one of the largest alternative asset managers in the world and we are pleased to bring their global investment reach, specialist expertise and leading back office resources to our Australian clients.”
The partnership follows Permal’s acquisition of BNP Paribas IP's Fauchier Partners – rebranded ‘Jubilee Advisers,’ in March this year.
Through BNP Paribas IP, investors can access the Permal and Jubilee range of funds as well as the hedge fund solutions business which allows investors to customise products against investment parameters including risk and return objectives, economic outlook, asset allocation preferences and risk appetite.
This includes the Permal Managed Account Platform which BNP Paribas IP said provides greater control, liquidity, transparency and the possibility of lower fees.
“This partnership provides Australian investors with access to a leading alternative investment team,” BNP Paribas IP said.
