Paris-based BNP Paribas Investment Partners has boosted its fund-of-funds business with the acquisition of IMS Group, led by Richard Timberlake, a pioneer of the UK multi-management industry.
IMS manages â¬6.5bn ($10.2bn), which lifts the total sum in similar products under BNP's multi-manager unit FundQuest to â¬47bn. The total number of employees at FundQuest will rise to 210, including 48 investment professionals operating on a worldwide basis.
