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.