EUROPE – Calyon, the merged Credit Lyonnais investment bank and Crédit Agricole Indosuez, has tied up with HFR Europe to offer structured products based on HFR’s HFRX investable hedge funds indices.

HFR and Calyon said in a statement that the license agreement takes effect immediately. It permits Calyon to market products based on HFRX to clients worldwide. The financial terms of the deal were not disclosed.

“We believe HFR combines a very long expertise in benchmarking the hedge fund industry and a unique platform providing both transparency and liquidity,” said Jean-Philippe Bianquis, head of structuring at Calyon’s global fund business.

John Godden, managing director of HFR Europe, added: “This license agreement further increases the diversity and availability of products based on the HFRX family of Indices.”

The HFRX Index was launched in March 2003. Late last month HFR and Barclays Capital launched a new collateralised fund obligation product targeted at pension funds and insurers seeking exposure to the hedge fund market.

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