BNP Paribas Wealth Management and BNP Paribas Cardif formed a partnership with Blackstone to offer “Blackstone European Private Credit Fund,” a new unit-linked private debt-based account.
Launched with an exclusive early access period until April 5 for BNP Paribas Wealth Management clients, the evergreen fund is available through an investment fund focused on private debt.
“We are delighted to partner with BNP Paribas Wealth Management and Cardif to bring our European private credit strategy to their clients,” Rashmi Madan, head of the EMEA for Blackstone Private Wealth Solutions, said. “This initiative is part of our mission to expand individual investors’ access to private markets in France and across Europe. France is a key market for us, and we see strong appetite from individual investors to diversify their portfolio to include private markets.”
“We are pleased to launch exclusive access to this private debt unit-linked for our French private clients. It will enable them to invest in attractive European companies through senior secured loans and to strengthen their portfolio diversification. BNP Paribas Banque Privee has solid internal expertise in private markets, enabling us to work with the best-in-class asset managers, such as Blackstone,” Nicolas Otton, head of BNP Paribas Banque Privee, said.
“We are pleased with this partnership with Blackstone, which enables us to expand our private markets offering within the life insurance, capitalization and individual retirement savings plans contracts distributed by BNP Paribas Private Banking in France. This new private debt fund underlines our commitment to providing an investment solution that makes savings meaningful for clients seeking diversification” Fabrice Bagne, deputy CEO of BNP Paribas Cardif in France, Italy and Luxembourg, said.
