BNP Paribas Asset Management’s (BNPP AM) second European sub-investment grade infrastructure bond fund has secured €280 million in initial capital commitments from eight investors.
The manager said initial capital commitments for BNP Paribas Europe Junior Infrastructure Bond Fund II have been secured from institutional investors in Europe and Asia, but did not reveal their identity or specific investments.
The fund has a hard cap of €1 billion and aims to raise between €500 million and €750 million.
Like its predecessor, Junior Infrastructure Debt II will “prioritize assets under management and offer regular coupons and attractive returns” to support energy transition, green mobility, digital infrastructure and The project will be funded, the manager said.
According to BNPP AM, the predecessor fund has invested more than €300 million in dozens of innovative European infrastructure projects.
Junior Infrastructure Debt II made its first investment in August, funding Enfinity Global to develop a 1.5GW solar power project in Italy.
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 digitalization of the European economy.
“Debt Fund II is a vehicle for investors to access a diverse portfolio of opportunities and gain direct access to sub-investment grade infrastructure debt projects.”
Stéphanie Passet and Vincent Guillaume, co-heads of infrastructure debt at BNPP AM, said: “Following the success of Fund Junior I, we are pleased to announce the first close of the Infrastructure Debt Junior II Fund with significant capital. This shows that there is a growing interest in
“The launch of this second vintage strengthens our presence in the junior infrastructure bond market and highlights our ability to support the energy and digital transition of the European economy through financing a wide range of infrastructure projects on a European scale. ”
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