BNP Paribas Asset Management (BNPP AM) has held its first close for the BNP Paribas European Junior Infrastructure Debt Fund II, securing €280 million ($307 million) of commitments from eight European and Asian institutional investors.
The fund has a target size between €500 million ($548 million) and €750 million ($822 million) and a hard cap of €1 billion ($1.1 billion).
Junior Infrastructure Debt Fund II follows the advanced deployment of the first vintage of junior infrastructure debt, which has invested more than €300 million ($329 million) in several dozen innovative infrastructure projects in Europe. After the deployment of Junior I, this vehicle will apply the same financing policy and will support the energy transition, green mobility and digital infrastructure projects. The fund invests in sub-investment-grade infrastructure debt in a diversified manner, with a preference for operational assets. It targets the main countries of continental Europe, w
