BNP Paribas creates €30bn unit dedicated to private assets

Headed by David Bouchoucha

BNP Paribas has created a new business unit within its investment and protection services (IPS) division dedicated to private asset management.

Headed by David Bouchoucha, formerly responsible for BNPP AM's private debt and real assets investments, the unit will combine private asset management expertise across the firm's wealth management, insurance and real estate divisions.  It will bring together the private asset management capabilities of Principal Investments and its subsidiary BNP Paribas Agility Capital, BNP Paribas Asset Management and part of BNP Paribas Cardif, accounting for more than €30bn of AUM and advisory. BNP Paribas AM integrates private assets divisions into subsidiaries The unit will be operational an...