BNP Paribas Asset Management Alts, through its PRIME unit, announces $722[1] million final close of its first Infrastructure Secondaries fund
BNP Paribas Asset Management Alts (“BNPP AM Alts”), the largest alternative asset manager in Europe and a global leader with c. €300 billion[2] in assets under management, announces, through its PRIME unit[3], the final close of ‘Prime Diversified Infrastructure Fund I’ (“PDIF I”), the first BNPP AM Alts fund dedicated to investments in infrastructure secondaries.
PDIF I closed with $722 million of investor capital, reflecting the growing demand for this strategy and for BNPP AM Alts’ differentiated approach to sourcing transactions. PDIF I’s investors base is composed of a diverse group of institutional investors, including insurance companies and pension funds across Europe, APAC and North America.
BNPP AM Alts’€29[4] billion Infrastructure platform is a diversified and multi-disciplined platform, providing access to attractive global and European opportunities through direct and secondaries investments. Through its infrastructure secondaries strategy, the team invests in core+ infrastructure assets with a strong focus on the mid‑market segment across Europe and North America. The strategy targets building a diversified portfolio of global infrastructure assets sourced primarily through LP‑led and GP‑led secondary transactions, as well as co-investments.
Jean‑Pascal Asseman, Head of Infrastructure at BNPP AM Alts – Prime, commented: “We are delighted with the significant interest received from a high‑quality and diversified group of investors, which enabled us to reach a successful final close. This achievement reflects the attractiveness of our strategy, the depth of our sourcing capabilities, and investors’ continued confidence in our disciplined investment approach within the infrastructure secondaries market.”
Faraz Qureshi, Head of Infrastructure Secondaries at BNPP AM Alts – Prime, added: “PDIF I positions us well to capitalise on compelling opportunities available in a rapidly expanding infrastructure secondaries market. With more than ~ $55bn worth of transactions reviewed since inception, sourced through our excellent network of GP relationships, we are excited by the strong pipeline of opportunities ahead. “
Including transactions in the process of closing, PDIF I is currently ~ 80% committed with 14 investments, which are diversified across sectors and regions, with a bias towards Europe and the mid-market segment.
Given the advanced deployment rate of PDIF I and the continued support from anchor investors, BNPP AM Alts expects to launch a successor fund (PDIF II) in the coming months.
Capital at risk. The value of investments may fall as well as rise and you may not get back the full amount invested.
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Footnotes
[1] Using an exchange rate of 1.15 USD /EUR; the fund is denominated in Euros and closed at €628 million ↑
[2] 2 Data from BNPP Asset Management Alts as of 30 September 2025 ↑
[3] PDIF I is managed by AXA IM Prime, part of BNPP AM Alts ↑
[4] Data from BNPP Asset Management Alts as of 30 September 2025 ↑
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This press release and the information included herein is intended exclusively for use by journalists or other members of the media acting in their professional capacity. It is intended solely to provide them with general information and enable them to have an overview of the funds or strategies described herein for the purposes of their own independent editorial. It may relate to funds or strategies that are not authorised for distribution in the country in which it is being issued. It does not constitute an offer or solicitation, nor may it be treated as such in any jurisdiction in which such an offer or solicitation is against the law or to anyone to whom it is unlawful to make such an offer or solicitation. The opinions expressed here are the views of the author and do not constitute investment advice. This is not a recommendation to purchase, sell or subscribe to financial instruments, an offer to sell investment funds, or an offer of financial services. This press release is as dated. This is for information purposes only. No financial decisions should be made on the basis of the information provided. Past performance is not necessarily representative of future results: performance is not constant over time and the value of investments may fall as well as rise. BNP Paribas Asset Management assumes no liability whether direct or indirect that may result from using any information contained in this document. In no circumstances may BNP Paribas Asset Management be held liable for any decision taken based on this information.
