BNP Paribas Asset Management (BNPP AM) has announced the second closing of its Agility 2 co-investment fund, raising nearly €700m, exceeding expectations. 

The fund, launched in 2024, targets co-investments in European small and mid-cap companies alongside leading private equity firms, offering ticket sizes between €10m and €50m.

Agility 2 has already invested €200m across 15 companies, with plans to close five additional deals. The fund’s ultimate target is €900m and aims to build a diversified portfolio of 50 companies spanning sectors such as healthcare, technology, and services.

The second closing was supported by strong demand from institutional and private investors in Europe and Asia, reflecting growing interest in diversified private markets exposure. BNP Paribas Wealth Management played a key role in raising capital, highlighting increasing client appetite for private assets.

BNP Paribas itself has committed €300m to the fund, ensuring alignment of interest. Claire Roborel de Climens, Head of Unlisted and Alternative Investments at BNP Paribas Wealth Management, said: “Private equity plays a key role in client portfolios, offering access to high-growth, unlisted companies with the potential for long-term outperformance.”

Lionel Gomez and Damien Fournier, Co-Heads of BNPP AM’s Private Equity team, expressed satisfaction with the results, stating: “This closing demonstrates the appeal of co-investments in a selective market. We remain committed to deploying capital effectively and supporting European mid-market leaders.”

Agility 2 is a Specialized Professional Fund (FPS) regulated by the French AMF and managed by BNPP AM’s Private Assets division, which oversees €41bn in assets. The fund’s success reflects the increasing importance of private equity in portfolio allocations, particularly in today’s uncertain market environment.

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