BNP Paribas Asset Management (BNPP AM) announced that it has raised €280 million (USD$305 million) at the first close of BNP Paribas European Junior Infrastructure Debt Fund II, aimed at supporting energy transition, green mobility and digital infrastructure projects.

Classified as Article 8 under the EU Sustainable Finance Disclosure Regulation (SFDR), the fund invests in non-investment grade infrastructure debt, targeting primarily projects supporting the energy and digital transition in the main countries of continental Europe, while integrating environmental and social considerations throughout the investment process, with each asset in the fund subject to a dedicated analysis, complemented by a detailed environmental contribution assessment.

Karen Azoulay, Head of Infrastructure Debt at BNP Paribas Asset Management, said:

“Infrastructure debt is an asset class that has proven its resilience and ability to contribute to the ecological transition and digitalisation of the European economy. Debt Fund II is a vehicle that allows investors access to diverse portfolio opportunities and direct access to sub-investment grade infrastructure debt projects.”

The fund made its first investment in August 2024, supporting the financing, development and construction of 1.5 GW of solar energy assets in Italy by Enfinity Global.

BNPP AM said that it aims to raise more than €750 million from institutional investors for the fund. The first vintage of the fund has invested more than €300 million in several dozen European infrastructure projects.

Stéphanie Passet and Vincent Guillaume, co-heads of infrastructure debt at BNPP AM, said:

“Following the success of the fund Junior I, we are happy to announce the first closing of fund Infra Debt Junior II with a significant amount. This first step shows the increased interest of investors for the infrastructure debt and particularly in the strategy proposed by BNPP AM. The launch of this second vintage strengthens our presence in the junior infrastructure debt market and highlights our ability to support the energy and digital transition of the European economy through financing various infrastructure projects on a European scale.”