BNP Paribas Asset Management (BNPP AM) has held the first close of its BNP Paribas European Special Opportunities Debt Fund II (BNPP ESO II) at €90m. The 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 eight years, and a target size of €300m. 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”, according to a press statement. This second vintage targets a Net IRR of 12-15% by investing in six to eight private debt funds.
BNPP AM Private Assets has assets under management and advisory of €40bn with the fund oplatform team currently managing and advising over €16bn in private assets (private equity, private debt and real assets).
