BNP Paribas’ fund management subsidiary Theam is seeking to increase its investment in Asia-focused hedge funds to €200 million over the next year, Reuters reports. The firm is looking to roll out an open-ended fund of hedge funds by the end of this year or early next year.

BNP is aiming at €10million to €15 million in investments with hedge funds managing a minimum of €100 million as ideal investment candidates. Currently Theam manages €1 billion in some 15 private funds of hedge funds for insurance firms, institutional investors and private banking clients.

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