BNP Paribas Asset Management

David Vaillant holds the mandate as Head of Global Multi-Asset, Quantitative & Solutions, under whom the private markets fund-of-funds team operates. Sandro Pierri, as CEO of the overall asset management entity, sets the strategic direction. The investment committee functions within the group's risk framework, with individual sector heads responsible for primary commitment and co-investment selection per the firm's official communications.

Yes. The group's corporate and institutional bank is active in leverage finance, project finance, and prime brokerage. Those lines of business surface general partners long before they appear in paid databases. The fund-of-funds team filters those leads through a formal due-diligence process that includes operational risk scoring and investee-level ESG integration.

No. The private markets team makes commitments across North America, Europe, and Asia-Pacific. Investment professionals are physically located in Nanterre, London, New York, Hong Kong, and Singapore to maintain local presence. The private equity sleeve includes buyout, growth, and venture funds; infrastructure spans OECD and emerging-market strategies.

BNP Paribas Wealth Management constructs multi-manager portfolios expressly for private banking clients. BNP Paribas Asset Management's fund-of-funds team primarily serves institutional investors—pension funds, insurers, sovereign institutions—and operates under the group asset management entity. The two are structurally separate, with distinct investment teams and client bases.

The private markets fund-of-funds program includes dedicated secondary activity—acquiring limited partner interests in existing funds and portfolios—alongside primary commitments and direct co-investments. This three-pillar structure mirrors that of most institutional-scale private markets fund-of-funds managers.

The unit's fee schedule is not publicly disclosed in standard marketing material. Typically, bank-affiliated fund-of-funds managers charge a management fee on committed capital and, in some cases, a performance fee above a hurdle—though the institution may use basis-point management-fee-only structures for certain large mandates. Specific terms are always negotiated with each institutional client.

Co-investments are a stated capability of the private markets program. The group leverages its prime brokerage and leverage-finance network to source co-investment tickets. For clients, co-investment access is typically structured either through a dedicated vehicle or on a deal-by-deal basis, subject to the client's mandate with the firm.