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BNP Paribas Capital Partners hits €80 million for first close of Singularity I

Friday, September 25, 2020

Bailey McCann, Opalesque New York:

BNP Paribas Capital Partners, an investment arm of BNP Paribas, has reached the first close of its BNP Paribas Singularity Fund I. Singularity is a new private equity fund of funds that is focused on tying certain investments to the UN sustainable development goals (SDGs). The fund reached its first close with €80 million of assets under management.

The fund will focus on sustainable growth trends including demographic and technological developments and challenges relating to climate change. BNP Paribas Capital Partners believes that there is an opportunity to create long term value by finding innovative companies working on each of these issues. The strategy is in line with BNPP AM's Global Sustainability Strategy, overseen by Jane Ambachtsheer, BNPP AM's Global Head of Sustainability.

Singularity will be managed by Anne-Sophie Kerfourn and Emmanuel Haumesser and will invest in both traditional and impact private equity funds. The vehicle will predominantly target buyout and growth capital funds active on the European lower mid-market through primary commitments and co-investments. Initial limited partners include BNP Paribas and a major insurance company. BNPP CP will market the fund primarily to European institutions and family offices.

"Sustainability is at the very heart of our strategy. We firmly believe that fund managers and companies that provide tangible solutions to global challenges will be better equipped to gener......................

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