Asia Hedge Funds Win Bigger Allocations at Manager Bought by BNP

Axa IM Prime, part of the global asset manager recently acquired by BNP Paribas SA, has been boosting its allocation to Asia hedge fund managers in the past five years, when the retreat of US institutions left the regional industry starved of fresh cash.

Various portfolios of Axa IM Prime’s $5 billion hedge fund business have between 20% and 30% of their assets invested in Asia specialists, up from zero before 2020, Global Head of Hedge Funds Johann Ropers said in an interview. The unit also started a program that provides $100 million of multi-year capital each to fledgling firms to help them reach a scale where they can attract more institutional money.