BNP Paribas announces the creation of Private Assets, a new business unit within its Investment and Protection Services (‘IPS’) division (including asset management, wealth management, insurance and real estate), aimed at becoming a leading European player in private asset management.
Integrated within BNP Paribas Asset Management and operational as of January 2023, Private Assets will combine private asset management expertise across IPS and will operate in close collaboration with BNP Paribas Corporate & Institutional Banking (‘CIB’) and the Group’s distribution networks.
Sandro Pierri, CEO of BNP Paribas Asset Management added:
“The creation of Private Assets brings together teams with robust expertise, who will collectively offer a unique range of investment opportunities and solutions to all the Group’s clients. In an environment of volatility and cyclical uncertainty, being able to offer quality assets, selected according to financial and extra financial criteria, offering a stable return provides a major diversification lever.”