BNP Paribas Asset Management (‘BNPP AM’) announces today the first closing of its BNP Paribas European Special Opportunities Debt Fund II (‘BNPP ESO II’) for EUR 90 million. This investment strategy enables institutional investors and family offices to capture special situations in Europe.
This second vintage takes the form of a Fund of debt funds, with capital drawdowns, a maturity of 8-years, and a target size of EUR 300 million. Classified as Article 8 under SFRD, the fund is poised to capitalise on the complex and diverse European private market, which currently offers a rich array of event-driven, stressed and non-core loans. This second vintage targets a Net IRR of 12-15% by investing in 6 to 8 private debt funds.
BNPP ESO II offers an effective diversification with a high target yield and a low idiosyncratic risk, capitalising on the strong sourcing capacity and portfolio construction know-how of BNPP AM Private Asset’s Fund Platform.
Claire Gawer, Head of the Fund Platform – Private Assets division at BNP Paris Asset Management:
“BNPP ESO II is a testament to the success of our first fund. It is designed to benefit from a very attractive market environment with continued European banks downsizing their portfolio of non-core corporate loans, refinancing of leveraged companies, and secondary market dislocations.”
The Fund Platform team at BNPP AM benefits from the Private Assets division of BNPP AM’s extensive capabilities and network in addition to a track record in private debt fund selection and investment since 2013. It manages and advises over EUR 16 billion in private assets (Private Equity, Private Debt and Real Assets).
BNPP AM Private Assets combines a range of private asset management expertise for the BNP Paribas Group. BNPP AM Private Assets has assets under management and advisory of EUR 40 billion.
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