BNP Paribas Asset Management (BNPP AM) has held a first close for its BNP Paribas European Infrastructure Debt Fund II (Infra Debt II) with commitments of more than €300 million ($355 million) from European institutional investors.
Infra Debt II is an Alternative Investment Fund structured as a Luxembourg SICAV-RAIF, and launched in April 2021. The marketing period will end in April 2022, and the fund has a hard cap of €1 billion ($1.2 billion). It invests in senior secured debt in Europe across multiple infrastructure sectors, with a particular focus on digital infrastructure and renewable energy, both of which have demonstrated resilience during the recent economic environment. The fund is also targeting opportunities within utilities and social infrastructure. It follows on from the success of BNPP AM’s first senior infrastructure debt fund, which launched in 2017, raised assets of €474 million ($562 million) and is now fully deployed.
Commitments have been
