BNPP AM makes first close of infra debt fund at €280m

BNP Paribas Asset Management has made a first close of its European Junior Infrastructure Debt Fund II with 280 million euros of commitments subscribed by 8 European and Asian institutional investors.

This fund follows the deployment of the first vintage of the firm’s junior infrastructure debt, which has invested more than €300 million in several dozen European infrastructure projects.

After the deployment of Junior I, the new vehicle will apply the same policy of investing in the energy transition, green mobility and digital infrastructure projects.

The fund invests in sub-investment grade infrastructure debt, in a diversified manner, with a preference for operational assets, offering regular coupons and attractive returns.

Karen Azoulay, Head of Infrastructure Debt at BNP Paribas Asset Management, said: “Infrastructure debt is an asset class that has proven its resilience and ability to contribute to the ecological transition and digitalisation of the European economy.

“Debt Fund II is a vehicle that allows investors access to diverse portfolio opportunities and direct access to sub-investment grade infrastructure debt projects.

“Following the success of the first vintage, we are proud to continue this momentum with the development of our range with this second fund, which strengthens our positioning in the market.”