BNP Paribas Asset Management is launching an ‘evergreen’ private credit fund within the Eltif framework – a regulatory regime designed to involve more people in private markets investments.
The BNP Paribas Alternative Strategies – Diversified Private Credit Fund simplifies access to private credit markets for professional and non-professional clients through a well-diversified access to European private debt markets with regular liquidity and attractive returns, the firm said.
Launched under the revised European Long-term Investment Fund (Eltif) framework – known as “Eltif 2.0” – the fund will provide access to an attractive and fast-growing investment segment, BNP Paribas AM said. The fund will invest in the debt of European corporates and the debt linked to real assets such as infrastructure and commercial real estate.
Noting that the Eltif 2.0 label denoted private markets funds that can be aimed at providing mass affluent clients with similar investment benefits as institutional investors, the firm said this followed a trend in the US where the democratisation of private markets is several years ahead.
BNP Paribas AM is targeting the private credit fund at institutional and wealth management distribution channels.
The various private credit strategies represented in the fund are managed by BNP Paribas Asset Management’s private asset division, which has €40 billion of assets under management and advisory.
Lucien Carton, head of solutions & client advisory, said: “With this new fund, we offer our clients diversified private market investment access through a unique solution, easy to access and packaged conveniently with quarterly liquidity. The fund is an exciting addition to our offering, enabling our clients to access private debt investment opportunities.”
David Bouchoucha, head of private assets, said the firm was proud to be amongst the first to participate in the new ELTIF market.
