CAPZA, part of BNPP AM Alts, announces the successful first closing of its fund CAPZA Private Debt 7, which has raised nearly €1.4bn, already surpassing half of the capital raised for the previous vintage, CAPZA Private Debt 6.
 
This achievement marks a strategic milestone for CAPZA’s private debt teams and demonstrates the strong appeal of a proven strategy backed by a solid two decade track record.
 
This initial fundraising round is supported both by the renewed confidence of long standing partners and the commitment of new investors, with more than 30% of total commitments coming from international markets (Germany, Belgium, Italy, Japan and the Middle East), where CAPZA continues to strengthen its presence.
 
The CAPZA Private Debt 7 fund provides financing to SMEs and mid caps primarily in France, Germany, the Benelux, Spain and Italy through unitranche and subordinated debt, leveraging CAPZA’s extensive network and deep understanding of local markets. This seventh vintage is part of the broader offering of BNP Paribas Asset Management Alts, which currently manages approximately €135bn in private debt and alternative credit assets.
 
Since the launch of the fund, five transactions have already been completed in France, the Netherlands and Germany for approximately €400m, focusing on high quality credit opportunities supported by proprietary sourcing, which sits at the core of CAPZA’s strategies. This dynamic reflects the team’s ability, made up of eight European Partners with an average of 26 years of experience, to access, select and structure robust transactions in an environment where selectivity remains a key factor in generating performance. By targeting companies operating in resilient and low cyclical sectors such as healthcare, technology and B2B services, CAPZA reinforces its investment strategy aimed at minimising default risk without compromising returns.
 
In line with the previous fund, this new vintage adopts an advanced sustainability approach aiming to align all stakeholders around measurable and sustainable transformation. In addition to pre investment ESG due diligence, the fund aims to integrate sustainability linked performance objectives into the financing terms of 75% of its unitranche investments.

“The success of this first closing underscores the trust our investors place in our ability to identify and structure high quality financings in a demanding European environment. Our strategy is built on a deep understanding of local markets, rigorous deal selection and prudent risk management. The growth of our fund demonstrates the relevance of our mid market private debt approach, which combines financial performance with sustainability.” – Christophe Fritsch, Global Head of Alternative Credit at BNP Paribas Asset Management Alts.

 
Figures as of 30 September 2025. Based on BNPP AM internal analysis data.
 
The investment identified does not represent all of the investments purchased, sold, or recommended for the strategy. There is no guarantee that the investment we make were or will be profitable. Developments of the past offer no guarantee and are no indicator for any future returns or trends.
 
Private assets are investment opportunities that are unavailable through public markets such as stock exchanges. They enable investors to directly profit from long-term investment themes and can provide access to specialist sectors or industries, such as infrastructure, real estate, private equity and other alternatives that are difficult to access through traditional means. Private assets do, however, require careful consideration, as they tend to have high minimum investment levels and may be complex and illiquid.
 
This press release and the information included herein is intended exclusively for use by journalists or other members of the media acting in their professional capacity. It is intended solely to provide them with general information and enable them to have an overview of the funds described herein for the purposes of their own independent editorial. It may relate to funds that are not authorised for distribution in the country in which it is being issued. It does not constitute an offer or solicitation, nor may it be treated as such in any jurisdiction in which such an offer or solicitation is against the law or to anyone to whom it is unlawful to make such an offer or solicitation. The opinions expressed here are the views of the author and do not constitute investment advice. This is not a recommendation to purchase, sell or subscribe to financial instruments, an offer to sell investment funds or an offer of financial services. This press release is as dated. This is for information purposes only. No financial decisions should be made on the basis of the information provided. Past performance is not necessarily representative of future results: performance is not constant over time and the value of investments may fall as well as rise. BNP Paribas Asset Management assumes no liability whether direct or indirect that may result from using any information contained in this document. In no circumstances may BNP Paribas Asset Management be held liable for any decision taken based on this information.