A newly formed infrastructure debt management partnership between BNP Paribas Asset Management (BNPP AM) and Korea Investment & Securities (KIS) has made its initial investment.
As part of the strategic partnership, BNPP AM will act as exclusive debt originator and manager for European junior infrastructure debt on behalf of the Korean investment banking and brokerage firm, for deals totalling up to €2bn.
BNPP AM said the newly created partnership was initiated with a £150m (€174.8m) private placement to Heathrow Finance, a holding company of Heathrow Airport.
BNPP AM said it is exploring further opportunities in Europe on behalf of KIS.
David Bouchoucha, CIO of Private Debt & Real Assets at BNP Paribas AM, said: “It [the partnership] demonstrates the power of BNPP AM’s distinctive approach to private credit, based on our strong origination capacity, a holistic approach to credit management and top tier structuring ability.
“This enables us to offer bespoke solutions that meet the requirements of large global investors.”