BNP Paribas Investment Partners is taking a stake in Asia-focused investment manager Orion Partners.

BNP Paribas Capital Partners, the asset manager’s alternatives platform, took a minority stake in the Hong Kong-based company, which specialises in real estate and private equity.

Its chief executive, Gilles Guérin, said: “The partnership provides us with an excellent opportunity to broaden the exposure to the fast-growing alternative investment opportunities in Asia, managed by a leading Asian-based and Asian-focused firm.

“Having worked closely together for more than 10 years to develop and distribute some of their products to institutional investors across the globe, we value their expertise and excellence in the creation and protection of value for their clients.”

The companies will develop and launch funds for Asia-focused alternative investment funds.

Orion Partners, which has $1bn in assets under management, will remain independent and continue to operate under its current management.

TK Chiang, managing partner and co-founder of Orion Partners, said the company had a “strong, long-standing relationship” with the French firm.

“It is the perfect partner to enhance our specialist alternative investment business through product innovation and access to premier international distribution channels,” Chiang said