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Allen & Overy’s France-Luxembourg Platform advises on the structuring of BNP Paribas European Infrastructure Debt Fund II

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Antoine Sarailler

Partner

Paris

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Six Jean-Christian
Jean-Christian Six

Partner

Luxembourg

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Vignon Mathieu
Mathieu Vignon

Partner

Paris

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Pecenik Joanna
Joanna Pecenik

Counsel

Luxembourg

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Benjamin Lacourt

Senior Associate

Paris

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Amina Elothmani

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Paris

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27 July 2021

France and Luxembourg – Allen & Overy has advised BNP Paribas Asset Management (BNPP AM) in connection with the structuring of its BNP Paribas European Infrastructure Debt Fund II (Infra Debt II).

Infra Debt II has so far attracted commitments of EUR300 million from a range of European institutional investors, with a hard cap set at EUR1 billion by April 2022.

Infra Debt II invests in senior (euro-denominated) debt across Europe with a focus on various underlying infrastructure assets, including digital infrastructure and renewable energy. The fund also targets opportunities in community services and social infrastructure. Infra Debt II follows the success of a first senior infrastructure debt fund launched at the end of 2017 by BNPP AM, having raised EUR474m in commitments which have been fully deployed.

Commitments for Infra Debt II have been received from insurance companies, pension funds and corporates based in the UK, France and Belgium, with further investors expected across Europe and Asia. Eight investments have already been committed for an amount of approximately EUR250m in optical fibre, social infrastructure, utilities and renewable energy.

Infra Debt II aims to generate stable long-term returns for investors, while preserving the capital invested, and adheres to a rigorous ESG policy based on the analysis provided by BNPP AM’s Sustainability Centre. The management team also uses independent impact studies to assess induced and avoided greenhouse gas emissions, net environmental contribution and alignment of funded activities in accordance with the objectives of the Paris Climate Agreement.

BNPP AM was advised by members of A&O's France-Luxembourg Platform, comprising Antoine Sarailler (Partner, Paris), Jean-Christian Six (Partner, Luxembourg), Joanna Pecenik (Counsel, Luxembourg/Paris), Benjamin Lacourt (Senior Associate, Paris) and Romane Chéry (Associate, Paris) in respect of the legal and regulatory aspects pertaining to the fund, as well as Mathieu Vignon (Partner, Paris) and Charlotte Signol (Associate, Paris) in respect of tax aspects.

About Allen & Overy's France-Luxembourg Platform

Allen & Overy's France-Luxembourg Platform consists of a unique multi-disciplinary team which is fully integrated within A&O's international network and comprises lawyers from its Luxembourg and Paris offices.

Backed by practitioners recognised as leaders in their field in both the French and Luxembourg markets, the platform offers a wide variety of expertise: investment funds and asset management, corporate law and mergers and acquisitions, banking and finance, capital markets, securitisation, financial services regulation, tax, real estate, employment law, intellectual property, data protection and litigation and investigations.

Thanks to the breadth of its capabilities, our dedicated platform offers clients tailor-made solutions in respect of their France-Luxembourg projects, transactions and matters.

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