BNP Paribas Asset Management has launched its first commercial real estate debt fund.

Called European Real Estate Debt, the fund has a €1 billion fundraising target and will target a portfolio of senior secured loans in commercial real estate across the whole European market, including offices, retail, logistics, hotels, operating assets and non-standard assets.

BNP Paribas has said that the asset sourcing for the strategy is based on a “distinctive” open architecture model. This involves investing through direct lending and bank partnerships, as well as leveraging BNP Paribas group’s real estate franchises. Both strategies will incorporate a strong focus on environmental, social and governance (ESG) criteria.

Elsewhere, COIMA SGR has completed capital raising for the COIMA Opportunity Fund II (COF II), reaching the expected target of €500 million. The total amount of capital raised is now more than €650 million, when taking into account alr