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Partnership gives local access to global hedge fund giant
Thursday, 8 August 2013 12:00pm

A new distribution partnership between BNP Paribas Investment Partners Australia (BNPP IP) and Permal Group allows Australian investors access to the global alternative asset manager's funds.

Through BNPP IP investors can access the Permal and Jubilee range of funds, as well as the hedge fund solutions business, where investors can customise products to suit specific risk and return objectives. Permal clients will also have access to the Permal Managed Account Platform.

The partnership follows Permal's acquisition of BNPP IP's fund of hedge funds business, Fauchier Partners, rebranded 'Jubilee Advisers', in March of this year.

Permal, which is owned by Legg Mason, is one of the largest alternatives asset managers in the world with more than $23 billion in assets under management.

"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," BNPP IP Australia chief executive David Grybas said.

The partnership with Permal adds to BNPP IP's existing local relationships which include Antin Infrastructure Partners, Arnhem Investment Management, Carnegie Asset Management, Fischer Francis Trees & Watts, Hamilton Lane and Impax Asset Management.

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