In brief: BNP Paribas launches climate infra fund

The firm is seeking up to €750m to finance projects in continental Europe.

BNP Paribas Asset Management, part of the French mega-bank and financial services group, is raising a climate infrastructure debt fund.

The firm is seeking €500 million-€750 million to make investment-grade loans to renewable energy, clean mobility and circular economy projects in continental Europe, according to a statement. The fund is being marketed under Article 9 of the EU Sustainable Finance Disclosure Regulation. It will be managed by BNPP AM’s private assets division.

BNP Paribas Cardif, an insurance subsidiary of the group, has provided a seeding commitment, though its size was not disclosed.

Three investments have already been secured for the vehicle: a low-carbon energy producer, a green-sourced district heating platform and a portfolio of onshore wind farms.