BNP Paribas Creates Private Assets Unit

BNP Paribas announced the creation of Private Assets, a new business unit within its Investment and Protection Services (‘IPS’) division (including asset management, wealth management, insurance and real estate), aimed at becoming a leading European player in private asset management. This is according to a story in Markets Media news. Integrated within BNP Paribas Asset Management and operational as of January 2023, Private Assets will combine private asset management expertise across IPS and will operate in close collaboration with BNP Paribas Corporate & Institutional Banking (‘CIB’) and the Group’s distribution networks. In line with its GTS (Growth, Technology and Sustainability) 2025 strategic plan, BNP Paribas is creating Private Assets, a new business unit to strengthen the support and service to clients in the fast-growing private assets market.