BNP Paribas Asset Management launches BNP Paribas Novo 2018 business loan fund

Following the success of its Novo 1 fund, launched in 2013, BNP Paribas Asset Management (BNPP AM) announced the launch of BNP Paribas Novo 2018, a new business loan fund for institutional investors. The fund has the backing of the FFA and the CDC, and aims to provide new sources of financing to help French medium-sized companies expand.

BNP Paribas Novo 2018 builds on the success of the previous business loan funds managed by BNPP AM and could invest EUR 264 million over the next three years, as its clients remain committed to financing the French economy.

The fund will invest through Euro Private Placements (Euro PPs) or direct loans to finance ambitious projects, primarily by French medium-sized companies. The investment period has already begun, with an initial transaction in the recent bond issue from Groupe Pierre et Vacances-Center Parcs, the European leader in holiday villages and residences.

Capital raised from institutional investors in the fund will be deployed according to a rigorous investment process, with selection based on each project’s credit quality and environmental, social & governance (ESG) criteria.

BNP Paribas Novo 2018 is managed by BNPP AM’s Private Debt & Real Assets team, that includes around 50 investment professionals based in Paris, London and New York and has a track record in business lending dating back to 2006.

David Bouchoucha, Head of BNP Paribas Asset Management’s Private Debt & Real Assets investment group, commented:

We are proud to have launched the Novo range of funds for financing French SMEs and medium-sized companies, and proud that our clients have once again placed their trust in us. This is consistent with our status as a benchmark player in private debt, with more than EUR 7.5 billion of assets under management.

The launch of BNP Paribas Novo 2018 demonstrates our steadfast presence alongside companies seeking alternative financing. It also confirms the ongoing commitment of insurance companies and institutional investors for this asset class.

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