BNP Paribas Asset Management announced the first closing of its BNP Paribas European Special Opportunities Debt Fund II (BNPP ESO II) with a capital rase of €90 million ($99 million). This investment strategy enables institutional investors and family offices to capture special situations in Europe.
This second vintage takes the form of a fund of debt funds, with capital drawdowns, a maturity of eight years, and a target size of €300 million ($331 million). Classified as Article 8 under SFRD, the fund is poised to capitalize on the complex and diverse European private market, which currently offers a rich array of event-driven, stressed and noncore loans. This second vintage targets a net IRR of 12 percent to 15 percent by investing in six to eight private debt funds.
BNPP ESO II offers an effective diversification with a high target yield and a low idiosyncratic risk, capitalizing on the strong sourcing capacity and portfolio construction know-how of BNPP AM Priva
