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Global Hedge Funds Managers Boost Australian Presence

Global managers continue to establish Australian sales operations or strike local distribution deals, attracted by the country’s $1.9 trillion pool of investment capital (as calculated in the Triple A Partners / Basis Point Consulting Australian Hedge and Boutique Fund Directory 2012).  Latest developments include:

  1. BNP Paribas Investment (BNPP PI) will act as a distributor for Copenhagen-based Carnegie Asset Management, a global equities fund manager. BNPP PI currently acts as the distributor for Arnhem Investment Management (Australian equities), Antin Infrastructure Partners (infrastructure), Fauchier Partners (fund of hedge funds), Fischer Francis Trees & Watts (global fixed income), Hamilton Lane (private equity), Impax Asset Management (environmental equities) and internal investment partner, BNP Paribas Asset Management.
  2. US fund manager MFS has established an Australian sales operation after ending its local distribution arrangement with BNP Paribas Investment. MFS has hired a number of staff from BNP-PI and has so far garnered $14 billion from Australian clients, according to I&T News.
  3. Chicago-based William Blair & Co. has appointed Alex Francois (ex-Provident Capital) as head of its newly established Australian and New Zealand sales office. William Blair has AUM of US$47 billion covering equities, hedge funds and fixed income. The Australian office will initially focus on selling its global equities capabilities to institutional investors.
  4. New York-based Blue Mountain Capital Management’s managing director Jay Bryant told the Australian Financial Review (AFR) that ‘hopes are high’ for securing a local mandate following his second visit in a year to Australia. The firm ($7 billion AUM) offers credit and equity derivatives strategies and is part of the Affiliated Managers Group.
  5. Capital International, (part of the US based Capital Group) has launched its Emerging Markets Total Opportunities Fund for institutional and retail investors in Australia. The fund takes a bottom-up selection approach. Capital opened its Australian office last year, appointing Paul Hennessy, (ex-Macquarie) as head.

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