BNP Paribas Asset Management (BNPP AM) recently announced the first closing of its fund, the BNP Paribas European Special Opportunities Debt Fund II, with an impressive €90 million raised.
This fund, which focuses on opportunities in the European private debt market, is a major development for BNPP AM and its partners.
The new fund, which is positioned as a closed-end fund of debt funds with an 8-year lifespan, is aiming for a target amount of 300 million euros. Classified as Article 8 under SFDR regulations, it specializes in event-driven and stressed loans, drawing on a diversified European market. With a net internal rate of return (IRR) target of 12% to 15%, the fund will invest in 6 to 8 private debt funds, offering a diversified approach with an attractive risk profile.
Claire Gawer, Head of Fund Platform at BNPP AM's Private Assets division, emphasizes that the fund is designed to take advantage of a favorable market environment, marked by the reduction of non-strategic loan portfolios by European banks and the refinancing of over-indebted companies.
With nearly €16 billion in private assets under management and solid experience in the field since 2013, the Fund Platform team benefits from an extensive network and cutting-edge expertise in asset selection. Bringing together all unlisted asset management skills under the BNPP AM umbrella, the Private Assets division boasts a total of around €40 billion in assets under management and advised.
.The launch of this fund demonstrates BNP Paribas Asset Management's desire to be actively involved in the transformation of private debt markets, while pursuing sustainable performance objectives for its investors.
Image: BNP Paribas AM ©
This post was translated from the original French.