Reuters – French bank BNP Paribas’ fund management subsidiary THEAM plans to quadruple its investment in Asia-focused hedge funds to 200 million euros ($268 million) over the next year to tap the region’s strong growth, a senior THEAM executive said.
European fund-of-hedge-funds are a major source of funding for capital-starved managers in Asia who, according to industry tracker AsiaHedge, now manage about $47 billion less than their peak assets of $192 billion hit in December 2007.
