CAPZA announces the appointment of Christophe Vulliez as Co-Head of Private Debt, and the promotion of Oriane Mizrahi as Head of France Private Debt.


Christophe Vulliez assumes co leadership of CAPZA’s Private Debt team, which currently comprises 29 professionals across France, Germany, Spain, Italy, and Benelux. He will oversee the development and international expansion of the business, as well as the supervision of Private Debt strategies within BNPP AM Alts. He will report directly to Christophe Fritsch, Global Head of Alternative Credit at BNPP AM Alts, and will work closely with Guillaume de Jongh.

With more than 25 years of experience in financing and private debt, including seven years in London, New York, and Hong Kong, Christophe Vulliez has played an active role in the growth and recognition of this asset class in Europe. His strong expertise in structuring complex financings, particularly in LBO transactions, and his strategic vision are a significant asset for our teams. He has successfully executed more than 60 transactions at BNP Paribas, Ardian, Bluebay/Arcmont AM, and Diagonal Capital. His arrival is a major lever for accelerating growth and creating sustainable value for our partners.

Within the Private Debt team, Oriane Mizrahi, Partner since 2022, is promoted to Head of France Private Debt, assuming responsibility for the French team, which today includes 12 professionals. Oriane has over 17 years of experience in private debt, nearly 10 of which at CAPZA and nine within CAPZA’s private debt activity, where she has completed more than 20 transactions. Oriane has held successive roles as Principal, Director, and Partner, building a recognised expertise in financing structuring.

These appointments reflect the ambition of CAPZA, and more broadly that of BNPP AM Alts, to accelerate the development of the Mid-Market Private Debt franchise in Europe, relying simultaneously on the recruitment of international talent and the promotion of internal expertise. In 2025, CAPZA’s Private Debt team completed 10 transactions, half of them outside of France (Netherlands, Italy, Germany), representing an arranged amount exceeding €700m. The team also supported 8 early repayments or refinancing operations, totalling more than €650m.

“We are delighted to welcome Christophe Vulliez to CAPZA’s Private Debt business and, more broadly, to the Alternative Credit activity of BNPP AM Alts. His arrival, combined with the promotion of Oriane Mizrahi, strengthens our origination and execution capabilities within a fast growing business at the core of our value proposition. These appointments mark a new phase of growth for CAPZA’s private debt teams, focused on international expansion while maintaining the discipline and excellence that have contributed to our success in recent years”, stated Christophe Fritsch, Global Head of Alternative Credit at BNPP AM Alts.


CAPZA’s Private Debt teams are part of the Alternative Credit business line of BNPP AM Alts, which, together with real assets private debt expertise, managed more than €135bn in assets as of end September 2025, ranking among the global leaders in the sector.
 
Information regarding the Private Debt team at CAPZA (Atalante) is provided for information purposes only. We do not guarantee that the staff members remain employed by CAPZA (Atalante) and exercise or continue to exercise in the Private Debt team at CAPZA (Atalante).