BNP Paribas Capital Partners announces first close of BNP Paribas Singularity Fund I

September 24, 2020

BNP Paribas Capital Partners (‘BNPP CP’) announces the launch and first close of BNP Paribas Singularity Fund I (‘Singularity’), with commitments totalling EUR 80 million.  Singularity is a new private equity fund of funds that aims to deliver strong financial performance, together with measurable positive impact, framed around the UN Sustainable Development Goals (‘SDGs’).

Singularity will focus on sustainable growth trends including demographic and technological developments and challenges relating to climate change, which offer opportunities to create long term value.  BNPP CP is BNP Paribas Asset Management’s (‘BNPP AM’) specialist in external alternative manager selection.  It has launched the fund 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.  A key element of the fund’s strategy is to support private equity funds in adopting and developing their investment approach and impact measurement, in line with  the Operating Principles for Impact Management, to which BNPP AM was a founding signatory in 2019.  It will predominantly target buyout and growth capital funds active on the European lower mid-market through primary commitments and co-investments.  It may make secondary commitments depending on market opportunities.  Initial limited partners include BNP Paribas and a major insurance company.  BNPP CP will market the fund primarily to European institutions and family offices.

Gilles Guerin, CEO of BNP Paribas Capital Partners, comments:

“The initial closing of Singularity demonstrates the value and relevance of our unique approach to managing private equity funds of funds in order to create a positive impact.  This strategy is being deployed by BNPP CP’s specialised investment team in collaboration with the expertise of BNPP AM’s Sustainability Centre and the wider BNP Paribas Group to reach the highest standards.”

Anne-Sophie Kerfourn and Emmanuel Haumesser, co-managers of BNP Paribas Singularity Fund I, comment:

“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 generate higher returns in the longer term.  As investors, it is our role to support our underlying fund managers in creating and sustaining positive impact.”

Jane Ambachtsheer, Global Head of Sustainability at BNP Paribas Asset Management, comments:

“We welcome Singularity to the range of BNP Paribas sustainable strategies, and support the implementation of an ambitious impact framework for the fund’s investment and reporting approach.”

- ENDS - 

Investments in funds are subject to market fluctuations and to the risks inherent in investing in financial securities.  The value of investments and the income they generate may rise as well as fall, and investors may not recover their entire initial investment, the fund described being at risk of capital loss.

 

About BNP Paribas Capital Partners

BNP Paribas Capital Partners is BNP Paribas Asset Management’s specialist in the selection, multi-management and incubation of alternative managers, including hedge funds, alternative UCITS, private debt, infrastructure and private equity.  As at 31 December 2019 BNP Paribas Capital Partners managed, advised and administered EUR 6.5 billion on behalf of institutional clients, corporates, private banks and high net worth individuals.

 

BNP PARIBAS ASSET MANAGEMENT UK Limited, “the investment company”, is authorised and regulated by the Financial Conduct Authority.  Registered in England No: 02474627, registered office: 5 Aldermanbury Square, London, England, EC2V 7BP, United Kingdom.

This material is produced for information purposes only and does not constitute:

  1.          an offer to buy nor a solicitation to sell, nor shall it form the basis of or be relied upon in connection with any contract or commitment whatsoever or
  2.           investment advice.

This material is issued and has been prepared by the investment company.  It contains opinions and statistical data that are considered lawful and correct on the day of their publication according to the economic and financial environment at the time.  This document does not constitute investment advice or form part of an offer or invitation to subscribe for or to purchase any financial instrument(s) nor shall it or any part of it form the basis of any contract or commitment whatsoever.

This document is provided without knowledge of an investors’ situation.  Prior to any subscription, investors should verify in which countries the financial instruments referred to in this document refers are registered and authorised for public sale.  In particular financial instruments cannot be offered or sold publicly in the United States.  Investors considering subscriptions should read carefully the most recent prospectus and Key Investor Information Document (KIID) agreed by the regulatory authority, available on the website.  Investors are invited to consult the most recent financial reports, which are also available on the website.  Investors should consult their own legal and tax advisors prior to investing.  Given the economic and market risks, there can be no assurance that the financial instrument(s) will achieve its investment objectives.  Their value can decrease as well as increase. In particular, changes in currency exchange rates may affect the value of an investment.  Performance that is shown net of management fees and is calculated using global returns with time factored in, with net dividends and reinvested interest, and does not include subscription-redemption fees, exchange rate fees or tax.  Any gross of fees performance included in this material do not reflect the deduction of commission, fees and other expenses incurred.  Returns will be reduced after the deduction of such fees.  Past performance is not a guarantee of future results.

This document is directed only at person(s) who have professional experience in matters relating to investments ("relevant persons").  Any investment or investment activity to which this document relates is available only to and will be engaged in only with Professional Clients as defined in the rules of the Financial Conduct Authority.  Any person who is not a relevant person should not act or rely on this document or any of its contents.

All information referred to in the present document is available at bnpparibas-am.com.

As at September 2020.

Experts

Contact