National Bank of Canada and BNP Paribas have created a joint venture offering hedge fund managed accounts.

BNP Paribas has acquired a stake in Innocap Investment Management—an 11-year-old subsidiary of National Bank—which specializes in hedge fund managed accounts, a vehicle of choice for institutional investors who wish to invest in hedge funds while controlling operational and market risks.

The two banks intend to make Innocap the leading provider of managed accounts for investors worldwide

Innocap currently advises on more than US$2 billion of assets.

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