BNP Paribas AM Alts Closes €1.2B Fund, Standard Life Awards £3B Mandate

BNP Paribas AM Alts Closes €1.2B Fund

Standard Life Awards £3B Mandate

BNP Paribas Asset Management Alts held the final close of its second European junior infrastructure debt fund, European Junior Infra Debt Fund II, at €1.2B ($1.39B), drawing commitments from a mix of European and Asian investors. London-based Claret Capital Partners closed its fourth flagship growth debt fund, Claret European Growth Capital Fund IV, at €575M ($667.8M), exceeding its €500M target. And Chicago-based Tyree & D'Angelo Partners closed its fourth flagship fund at its $650M hard cap, nearly doubling the size of its prior vehicle.

On the allocator side, UK insurer Standard Life awarded a £3B ($4.1B) mandate to Ninety One covering emerging markets equity and Asia ex-Japan equity strategies, extending an existing relationship between the two firms. Separately, Norges Bank Investment Management proposed cutting the government bond share of its benchmark bond index to 50% from 70%, with the freed-up allocation split evenly between government-related bonds and a new allocation to agency mortgage-backed securities. Among US allocators, the Oregon Investment Council adopted a new asset allocation policy for the $104B Oregon Public Employees Retirement Fund, lowering targets for public equity, fixed income, private equity and real estate while raising real assets and establishing credit as a standalone 7.5% allocation for the first time.

In leadership developments, Royal London named Daniel Cazeaux interim CEO of Royal London Asset Management, following the departure of Hans Georgeson after five years; Cazeaux previously served as group CFO. National Investment and Infrastructure Fund named Gauravjit Singh as managing partner and global head of capital formation, joining from PAG, where he led investor relations and fundraising for the firm's private equity division. And in other people news, BlackRock TCP Capital Corp. appointed Jason Mehring as CEO following Philip Tseng's resignation, with Dan Worrell promoted to president.