Fauchier extends fund withdrawal terms to invest more widely

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Fauchier Partners, the institutional fund of hedge funds owned by BNP Paribas, has said the tripling of a withdrawal period on one product allows it to invest in a wider range of underlying managers.

The decision comes as less liquid strategies, particularly distressed debt, grow in popularity. The $8.1bn (£5bn) manager, 60% of whose assets are from pensions, tripled the notice period redeem...

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