BNP Paribas establishes debt, real asset division

The firm is also planning to launch a real estate debt platform later this year.

BNP Paribas Asset Management – recently rebranded from BNP Paribas Investment Partners – has established a division focusing on private credit investments, PERE's sister publication, Private Debt Investor, reported last week.

The division is branded as the firm’s private debt and real assets investment group.

The group is being overseen by David Bouchoucha, who joined the firm in 2010 and was formerly the firm's head of institutional sales, according to his LinkedIn profile.

Along with the creation of the group, BNPP plans to launch dedicated funds focusing on infrastructure and real estate debt later this year. It is speaking with potential investors for these offerings at the moment, the spokesman confirmed.

In other appointments, Philippe Deloffre became the head of real estate debt. He joined BNPP from Paris-based Acofi, where he was the general manager of real estate debt funds for six years, according to his LinkedIn.

The creation of the group was due to a desire from the firm to introduce new capabilities within private credit in line with its existing private credit operations, a spokesman for BNPP confirmed. While the firm raised €500 million for an SME lending fund in autumn 2016, it has only recently added capabilities around infrastructure and real estate debt.

BNPP does have real asset investment capabilities outside of the newly established credit teams. The firm invests in listed real estate-related equities while also having a dedicated real estate investment team.

With additional reporting by Meghan Morris