BNP Paribas Asset Management Alts (“BNPP AM Alts”), the largest alternative asset manager in Europe and a global leader with c. €300 billion in assets under management, announces, through its PRIME unit,the final close of Prime Capital Partners I (“PCP I”), the first BNPP AM Alts fund dedicated to GP stakes.
PCP I closed above its original €400 million fundraising objective with c.€540 million of investor capital, reflecting the growing investor demand for this investment strategy and for BNPP AM Alts’ differentiated approach to GP Stakes. It represents to date the largest GP stakes fund raised by a European manager.
PCP I’s investor base is composed of a diverse group of blue-chip international limited partners, including commitments from insurance companies, pension funds, banks and funds of funds.
BNPP AM Alts, through its GP Stakes strategy, acquires minority equity interests in leading General Partners (“GPs”) with a focus on mid-market, across private equity, private credit and infrastructure. It aims to accelerate the development plans of GPs through effective partnership. This is designed to be delivered across a range of strategic and operational levers, supported by the whole of the BNP Paribas platform and benefiting from the team’s trusted relationship with the AXA Group (“AXA”).
Gilles Dusaintpère, Head of GP Stake Investments at BNPP AM Alts, said: “We are thrilled with the significant interest we have received from limited partners, in addition to our anchor investor AXA. This is recognition of BNPP AM Alts’ differentiated proposition in GP Stakes, the strength of our platform and that of the BNP Paribas Group as a whole. I want to thank our investors and existing partners for their trust, and we look forward to continuing to support the growth of leading private markets managers.”
The GP Stakes team has completed six investments to date across high performing GPs with embedded diversification across strategies, asset classes and geographies, and aims to grow the PCP I portfolio to between 10 and 12 investments over the course of the fund life.
Capital at risk. The value of investments may fall as well as rise and you may not get back the full amount invested
PRESS CONTACT
BNP Paribas Asset Management (PRIME unit)
Julie Marie – +33 6 85 59 73 95 / Julie.Marie@axa-im.com
Prosek Partners
Matthieu Roussellier / Milo Larkin – pro-BNPPAMAltsPrime@prosek.com
The investment identified does not represent all of the investments purchased, sold, or recommended for the strategy. There is no guarantee that the investment we make were or will be profitable. Developments of the past offer no guarantee and are no indicator for any future returns or trends.
Private assets are investment opportunities that are unavailable through public markets such as stock exchanges. They enable investors to directly profit from long-term investment themes and can provide access to specialist sectors or industries, such as infrastructure, real estate, private equity and other alternatives that are difficult to access through traditional means. Private assets do, however, require careful consideration, as they tend to have high minimum investment levels and may be complex and illiquid.
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.
About BNP Paribas Asset Management Alts
BNP Paribas Asset Management Alts (BNPP AM Alts) is the alternative investments platform of BNP Paribas Asset Management. It is the largest alternatives asset manager in Europe and a global leader, with approximately €300 billion in assets under management across Real Estate, Infrastructure, Alternative Credit and Private Equity.
With more than 30-year track record, BNPP AM Alts has built a reputation as a pioneering and innovative asset manager, combining an entrepreneurial investment culture with strategic discipline.
BNPP AM Alts finances the real economy by providing equity and debt to help companies to expand by developing, managing and financing infrastructure and buildings essential to economic growth.
Sustainability is at the core of our investment decision-making processes, with a particular focus on decarbonization.
