BNP Paribas' fund management subsidiary THEAM is planning to allocate €200mn to Asia-focused hedge funds in the next 12 months in order to tap the region's strong growth.
BNP Paribas’ fund management subsidiary THEAM is planning to allocate €200mn to Asia-focused hedge funds in the next 12 months in order to tap the region’s strong growth.
Eric Debonnet (pictured), THEAM’s Paris-based head of alternative multi-management, told Reuters his main focus would be finding liquid Asia credit and equity long/short strategies.
“Opportunities are definitely in the micro economic space, which means stocks and credit,” Debonnet said.
“Dispersion in S&P is at its lowest ever which is bad news for long/short equity managers but it’s different here and Asia is wide open for many opportunities.”
According to Reuters, THEAM is planning to launch an open-end FoHF by end of this year or early 2012. Average investment would be €10-15m and hedge funds managing at least €100m would be ideal candidates for funding, Debonnet said.
Debonnet joined THEAM earlier this year from HDF Finance, a France-based FoHF.
THEAM was established in April 2011 following a merger between the SIGMA teams from BNP Paribas Asset Management and Harewood Asset Management which was created in 2004 by BNP Paribas CIB.
THEAM currently offers hedge fund, alternative Ucits and managed account services including manager selection, hedge fund strategy allocation, risk management and portfolio construction as well as managing open-ended fund of funds.
Its clients include institutions and wealth managers and total assets stand at an estimated €49bn.