Under the terms of the deal, BNP Paribas will acquire a stake in Innocap Investment Management, a subsidiary of National Bank of Canada that specializes in hedge fund managed accounts. Both parties have a vision to make Innocap a leading provider of managed accounts for investors around the world.
The agreement will allow BNP Paribas to strengthen its capabilities in structuring fund derivatives products, while completing its global alternative fund offering. Innocap will benefit from BNP Paribas’ commercial capacities, together with an international reach and breadth of distribution capabilities.
Martin Gagnon and Denis Parisien, co-CEOs of Innocap, said: BNP Paribas and National Bank of Canada are complementary, well-established institutions sharing the same business vision and ambition. We are confident in this joint venture and look forward to its success.
