French banking giant BNP Paribas has secured a licence to launch a fund management operation in Bahrain.
BNP Paribas Asset Management BSC is currently under formation and will be a wholly owned subsidiary of BNP Paribas Asset Management. Under the licence granted by the Central Bank of Bahrain, the new firm will manage a number of funds under Bahrain’s recently updated regulatory system, which now allows the sale of exempt collective investment undertakings, such as hedge funds and other higher-risk alternative investment vehicles, to qualifying investors. Jean-Christophe Durand, regional director of BNP Paribas-GCC, said: “We are very pleased with this new licence as it reflects the confide...
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