BNP Paribas Investment Partners has partnered with US-based Barrow Hanley to distribute investment products in Australia and NZ.

BNP Paribas Investment Partners, the global asset management arm of French banking giant BNP Paribas, has partnered with a US-based firm to become the latter's exclusive distributor in Australia and New Zealand.

The deal with Texas-based investment manager Barrow, Hanley, Mewhinney & Strauss adds to BNP's global expansion strategy, it said in a statement. Barroy Hanley currently has $81 billion in assets under management and has been serving institutional investors, mutual funds and family offices for over 35 years. 

"This partnership fits with out objective of providing Australian and New Zealand investors with the full circle of asset management expertise. Adding a global value equity manager to our range allows us to further meet client demand," said David Grybas, chief executive of BNP Paribas IP. 

The Barrow Hanley global value equity capability will be added to BNP's existing local solutions, which include Arnhem Investment Management, Antin Infrastructure Partners, Carnegie Asset Management, FFTW, Hamilton Lane, Impax Asset Management, Permal and BNP Paribas Asset Management.