BNP Paribas Asset Management has ramped up BNP SME financing opportunities.
It has done this by striking a partnership with CODE Investing.
Go deeper with GlobalData
The partnership paves the way for BNPP AM to invest in small businesses originated by CODE Investing, which is one of the UK’s institutional marketplaces for SME debt.
BNP SME financing
CODE Investing will provide direct lending access to unsecured SME loans ranging between £500,000-£5m.
Led by Stéphane Blanchoz, SME Alternative Financing allows the asset manager’s clients “differentiated and unique access to SME lending as an asset class”.
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By GlobalDataAt present the platform is only operational in the UK. There are plans to deploy the platform to other key markets in continental Europe.
Stephane Blanchoz, head of SME alternative financing at BNP Paribas Asset Management said: “Given the structural shift in the way that SMEs access financing, we are very pleased to have entered into a partnership with CODE Investing as part of the development of our SME Alternative Financing franchise. As BNPP AM expands its SME lending capability in the UK and in Continental Europe, the partnership will be key in originating loans to enable us to provide clients with an attractive investment offering.”
Ayan Mitra, CEO and founder of CODE Investing said: “Our institutional partners are able to directly access SME debt more efficiently and in greater volume without compromising their internal lending preferences and credit criteria. We are delighted to be selected by BNPP AM as one of its first origination partners for the SME Alternative Financing platform and look forward to contributing to its success over the coming years.”
In June 2018, BNPP AM completed its first UK loan on its SME lending platform.
The loan was a six year senior unsecured amortising loan and was made to a specialist recruitment services company based in the West of England.
The SME Alternative Financing platform is part of the Private Debt & Real Assets investment group and is one of BNPP AM’s four main investment areas.
