BNP Paribas Asset Management (BNPP AM) has introduced its inaugural infrastructure private equity fund, the BNP Paribas Low Carbon Transition Infra Equity Fund I, aimed at raising €750 million to accelerate Europe’s energy transition. The fund has already secured a €400 million anchor commitment from the BNP Paribas Group, with the goal of attracting additional investments from institutional investors such as insurers and pension funds.

“With a proven track record in low carbon solutions and strong client interest, we are confident in achieving a successful fundraising for this major milestone in our development,” said Karen Azoulay, Head of Real Assets at BNPP AM.

The fund will focus on clean energy, sustainable mobility, and circular economy projects, including cutting-edge sectors like batteries, hydrogen, and carbon capture. Its strategic investments leverage BNP Paribas’ expertise and its Low Carbon Transition Group, targeting mid-market capital-intensive infrastructure projects.

Early Investments

Two investments have already been completed:

Absolute Energy (Italy): A minority stake acquired in July 2024 supports a 3.0 GW pipeline of solar, wind, and storage projects.
Arkolia (France): A co-controlling stake taken in November 2024, alongside Mirova, advances rooftop photovoltaic solutions for France’s second-largest independent power producer.

“We are proud to create value for our investors while contributing to building a more sustainable future. With two deals already completed, we are demonstrating our commitment to financing the energy transition,” said Rodolphe Brumm, Head of Infrastructure Private Equity at BNPP AM.

ESG Integration

Classified under Article 8 of the Sustainable Finance Disclosure Regulation (SFDR), the fund adheres to rigorous ESG standards developed by BNPP AM’s Sustainability Centre. This ensures investments align with low-carbon goals, reinforcing BNP Paribas’ commitment to sustainable infrastructure development.

Led by David Bouchoucha, Head of BNPP AM’s Private Assets Unit, the fund benefits from a seasoned team managing over €40 billion in assets, positioning BNP Paribas as a key player in Europe’s clean energy transformation.