BNP Paribas Asset Management ('BNPP AM') announces the launch at the end of 2017 of two private debt strategies, European Infra Debt and European Real Estate Debt. The launches are BNPP AM's first within infrastructure debt and commercial real estate debt.
European Infra Debt invests in senior secured loans in Europe across sectors including transport, social, infrastructure, telecoms, renewable energy, conventional energy and utilities. European Real Estate Debt targets a portfolio of senior secured loans in commercial real estate across the whole European market, including offices, retails, logistics, hotels, operating assets and non-standard assets.
Asset sourcing for both strategies in based on a distinctive open archtecture model, investing through direct lending and bank partnerships, as well as leveraging the BNP Paribas Group’s leading infrastructure and real estate franchises. Both strategies incorporate a strong focus on Environmental, Social and Governance (ESG) criteria within asset selection and are managed by teams of seasoned investment professionals using robust investment processes.
Since the arrival of Karen Azoulay as Head of Infrastructure Debt and Philippe Deloffre as Head of Real Estate Debt in the second quarter of 2017, the teams have been strengthened with the hire of three additional senior members. Pauline Fiastre and Vincent Guillaume have a combined experience of nearly 30 years as infrastructure finance bankers. Both come from leading banking institutions in the infrastructure debt market, where they originated, structured and advised on a variety of infrastructure transactions spanning a wide array of sectors and geographies. Frédéric Soulié has been an international property finance specialist for more than 20 years, with significant experience of loan origination, structuring and distribution across all real estate asset classes in USA and Europe.
These recent developments are part of the broader initiative launched by BNPP AM a year ago within provate debt, which began with the creation of its Private debt and Real Assets Investment group. Under the leadership of David Bouchoucha, the platform consists of 50 investment professionals and manages assets totalling EUR 7.7 billion (as at 30 November 2017) across a wide range of private debt solutions, including leveraged finance, mid-cap financing, Small and Medium-Sized Enterprises (SME) loans and structured finance, as well as infrastructure debt and real estate debt.
David Bouchoucha, Head of Private Debt & Real Assets, comments:
“Infrastructure and real estate debt have become an essential component of asset allocation for clients looking for stable income from long dated instruments. They also offer an attractive risk return profile, with insurers subject to a Solvency II framework additionally bnefitting from favourable Solvency Capital Ratio treatment. The launch of these strategies is an important milestone in the development of BNP Paribas Asset Management’s global franchise, and they are currently generating significant inferest, with commitments from anchor investors and a strong pipeline of further potential commitments. We are committed to investing heavily in private debt and real assets, and providing our clients with a broad range of solutions based on a distinctive approach to asset sourcing and selection.”
Biographies of new team members Pauline Fiastre, Senior Fund Manager Telecom & Renewable Energy Pauline Fiastre has 18 years' experience. She joined BNP Paribas Asset Management in Octobre 2017 from Crédit Agricole CIB where she was a Managing Director in the Telecom, Meida & Technology finance division, responsible for developing the telecom infrastructure franchise. Prior to this, she spent ten years as a Director in Crédit Agricole's Power, Renewables & Utilities team, with a specific focus on renewables and government-sponsored schemes. She began her career in 1999 in project finance at CA Indosuez in New York. Pauline is a graduate from French engineering school Ecole des Ponts Paris Tech. Vincent Guillaume, Senior Fund Manager Transportation, Social Infrastructure & Telecom Vincent Guillaume has 10 years' experience. He joined BNP Paribas Asset Management in October 2017 from Société Générale, where he was a Senior Vice President in project finance, advising, originating and structuring transactions within the transportation, telecom, water & waste supply and social infrastructure sectors in EMEA region. Prior to this, he was an Associate in Real Estate Structured Finance in Société Générale's Commercial Real Estate Department. Vincent is a graduate of ESSEC Business School in Paris and is a CFA Charterholder. Frédéric Soulié, Senior Fund Manager Real Estate Debt Frédéric Soulié has 20 years' experience. He joined BNP Paribas Asset Management in July 2017, having been an independent real estate consultant covering European markets. Prior to this he was a Deputy Head of Real Estate Finance for Germany at the Royal Bank of Scotland, having previously held roles in structured real estate finance at ABN Amro in the UK and Capmark in the USA. Frédéric has a Masters in Finance from the University of Colorado and a Bachelor of Arts in International Business from ESC Rennes. About BNP Paribas Asset Management: BNP Paribas Asset Management is the investment management arm of BNP Paribas, one of the world’s major financial institutions. Managing and advising EUR569 billion of assets as at 31 December 2017, BNP Paribas Asset Management offers a comprehensive range of active, passive and quantitative investment solutions covering a broad spectrum of asset classes and regions. With close to 700 investment professionals and 600 client servicing specialists, BNP Paribas Asset Management serves individual, corporate and institutional investors in 70 countries around the world. Since 2002, BNP Paribas Asset Management has been a major player in sustainable and responsible investing.