BNP Paribas Wealth Management and BNP Paribas Cardif partner with Blackstone to bring private credit

February 06, 2024

•    The insurer BNP Paribas Cardif, BNP Paribas Wealth Management and Blackstone launch a new private assets unit-linked focused on private credit available within the framework of BNP Paribas life insurance, capitalisation contracts and individual retirement savings plans.
•    Clients of BNP Paribas Wealth Management will enjoy exclusive access to this unit of account until April 5, 2024. 
•    Its launch, backed by Blacktone’s strategy and expertise, enables BNP Paribas Cardif and BNP Paribas Wealth Management to strengthen the range of private assets products offered to their clients by giving them access to a type of asset usually reserved for institutional investors 
 

BNP Paribas Wealth Management and BNP Paribas Cardif announce a partnership with Blackstone, the world’s largest alternative asset manager, to offer "Blackstone European Private Credit Fund", a new unit-linked private debt-backed unit-linked account.  
This new support is available exclusively to BNP Paribas’ clients within the framework of BNP Paribas life insurance, capitalisation contracts and individual retirement savings plans.
Launched with an exclusive early access period until April 5^th 2024 for clients of BNP Paribas Wealth Management, “Blackstone European Private Credit Fund" is available through an investment fund focused on private debt... As an evergreen fund¹, it offers BNP Paribas Wealth Management and BNP Paribas Cardif’s individual savers an access to these solutions, a first since it has traditionally been available only to institutional investors.
 

By investing in large European companies, “Blackstone European Private Credit Fund” allows investors to diversify their assets and aspire to higher income potential through floating rate private debt, while benefiting from Blackstone's scale and experience. 
 

Rashmi Madan, Head of EMEA for Blackstone Private Wealth Solutions:

“We are delighted to partner with BNP Paribas Wealth Management and Cardif to bring our European private credit strategy to their clients. 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 Privée has solid internal expertise in private markets, enabling us to work with the best-in-class asset managers, such as Blackstone.”

adds Nicolas Otton, Head of BNP Paribas Banque Privée. 

“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”

states Fabrice Bagne, BNP Paribas Cardif Deputy Chief Executive Officer, France, Italy and Luxembourg.

Download the press release.

¹Evergreen funds (also known as “open-ended funds”) are flexible investment vehicles with no fixed end date.