BNP Paribas, France’s largest bank, will continue to distributethe fund to its clients and invest in future projects, although all futurecommitments will be negotiated on a case-by-case basis.

The entire CEP team will be transferred to the new entity,including chief executive Joost Bergsma.

The deal reflects the broader trend of big banksshedding non-core assets to free up capital in response to stifferregulations being imposed on the financial industry.