BNP Paribas Asset Management (‘BNPP AM’) has reached EUR 524 million for the first closing of BNP Paribas Agility Co-Invest Fund 2 (‘Agility 2’), the second vintage of BNPP AM’s European Private Equity co-investment strategy. The fund targets a Final Size of EUR 700 million to EUR 900 million.
Agility 2 leverages BNPP AM Private Assets’ Fund Platform’s relationship with 200 general partners (‘GPs’) and EUR 16 billion AUM (including advisory) to originate co-investment opportunities from the best European GPs. Agility 2 aims to build a resilient and diversified portfolio of 40 to 50 minority equity investments, mainly in midcaps companies, across a wide range of industries and with a pan-European focus. The investments take the form of co-investments, flex equity and GP-led deals, ranging from EUR 10 million to EUR 50 million each.
The fund has already invested in 12 transactions and has approved 5 more, which will bring the amount of invested capital to EUR 200 million before the end of the year.
Lionel Gomez and Damien Fournier, co-heads of BNPP AM’s Private Equity team comment:
“In spite of a difficult fundraising environment, we are happy to have reached EUR 524 million for the first closing of BNP Paribas Agility Co-Invest Fund 2. This was achieved thanks to the renewed support of several investors in the first vintage of BNP Paribas Agility as well as the commitment of new investors in France, in other European countries and in Asia.
The fund has attracted institutional investors as well as clients of BNP Paribas Wealth Management, both local and international, who appreciated the strong diversification of the fund as well as the alignment of interest with the Group, committing to EUR 300million in the fund.”
Classified as Article 8 under SFDR the fund will implement systematic selection criteria developed with BNPP AM’s Sustainability Centre to efficiently integrate material ESG considerations both at GP and company level.
Agility 2 is a Fonds Professionnel Spécialisé (‘FPS’) authorised by the French Autorité des Marchés Financiers (‘AMF’), managed by BNPP AM’s Private Assets business unit which, under the management of David Bouchoucha, has more than 100 professionals and assets under management and advisory over EUR 40 billion as of October 2024.
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