BNP Paribas Asset Management has reached EUR345 million (US$386.16 million) first close for its second European SME Debt Fund.
BNP Paribas European SME Debt Fund 2 has secured commitments from European and Asian institutional investors. The Fund seeks to finance small and medium-sized companies in Europe through a combination of bank lending and fund financing.
The Fund will finance SMEs using the senior debt or deferred amortization together with conventional bank financing.