BNP Paribas Euro SME Debt Fund II holds €576.5m final close

The fund was launched in September 2019. Simmons & Simmons provided legal advice.

The fund's predecessor vehicle held a final close in October 2016 on €500m. The fund's investment period came to a end earlier in 2020.

Investors
The fund's LP base comprises 20 institutional investors based in France, Belgium, the UK, Italy and Japan. Half of these were Fund I investors, according to a statement.

LPs in the previous vehicle include insurance companies and pension funds such as AG2R La Mondiale, CNP Assurances, ERAFP, La France Mutualiste, Groupama, MACIF and MAIF, as well as the EIF.

Investments
The fund will provide long-term financing for SMEs, providing loan of seven to 10 years. It provides senior debt in fine or deferred amortisation via the partnership between BNPP AM and the BNP Paribas Group's business networks in France, Belgium, Italy and Luxembourg.

Fund I provided financing for 101 SMEs based in Italy and France with revenues of less than €50m. The second fund is likely to aim for a similar number of investments, with ticket sizes of around €5m.

People
BNP Paribas – David Bouchoucha (CIO of private debt and real assets).

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