BNP Paribas Asset Management launches SME lending fund

By Daniel Lanyon on Tuesday 1 May 2018

Editor's PickAlternative Lending

The firm is targeting institutional investors in the second iteration of its private debt fund that lends to French SMEs.

BNP Paribas Asset Management launches SME lending fund
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BNP Paribas Asset Management has launched a new SME lending fund for institutional investors.

The BNP Paribas Novo 2018 business loan fund follows on from its Novo 1 fund, launched in 2013. The new fund has the backing of the FF and the CDC and aims to provide new sources of financing to help French medium-sized companies expand.

BNP Paribas Novo 2018 could invest €264m over the next three years, the firm said in a statement.

The fund will invest through Euro Private Placements or direct loans to finance “ambitious projects primarily by French medium-sized companies”.

Alongside credit quality the fund will target firms meeting environmental, social & governance (ESG) criteria.

BNP Paribas Novo 2018 is managed by BNPP AM’s Private Debt & Real Assets team. David Bouchoucha, head of BNP Paribas Asset Management’s private debt & real assets investment group, offers a bullish outlook for the firm’s burgeoning private debt business.

“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 €7.5bn of assets under management.”

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

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