Blackstone and BNP Paribas are partnering on a brand new personal debt fund for particular person buyers in France.
The ‘Blackstone European Non-public Credit score Fund’ will put money into massive European corporations, permitting buyers to diversify their property and earn increased returns by means of floating fee personal debt.
The evergreen fund has been launched with unique early entry till 5 April for shoppers of BNP Non-public Wealth administration and insurer BNP Paribas Cardif.
“We’re delighted to companion with BNP Paribas Wealth Administration and Cardif to deliver our European personal credit score technique to their shoppers,” mentioned Rashmi Madan, head of EMEA for Blackstone Non-public Wealth Options.
Learn extra: Blackstone sees progress in personal credit score funds in fourth quarter
“This initiative is a part of our mission to increase particular person buyers’ entry to personal markets in France and throughout Europe. France is a key marketplace for us, and we see sturdy urge for food from particular person buyers to diversify their portfolio to incorporate personal markets.”
Non-public debt funds, which have been historically the protect of institutional buyers, are more and more tapping into the wealth market to increase their sources of funding and meet demand from high-net-worth people for elevated returns.
“We’re happy to launch unique entry to this personal debt unit-linked for our French personal shoppers,” mentioned Nicolas Otton, Head of BNP Paribas Banque Privée.
“It’s going to allow them to put money into engaging European corporations by means of senior secured loans and to strengthen their portfolio diversification. BNP Paribas Banque Privée has strong inside experience in personal markets, enabling us to work with the best-in-class asset managers, reminiscent of Blackstone.”
Apollo International Administration has additionally been open about its ambitions to draw rich retail buyers wishing to diversify away from public markets.
Final week, managing director Veronique Fournier mentioned that the agency is “effectively on observe” to lift $50bn (£39.8bn) from the wealth marketplace for its personal capital merchandise by 2026.