Key Takeaways
- • BNP Paribas Asset Management launched Agility Co-Invest Fund 2 (Agility 2), a French-regulated Fonds Professionnel Spécialisé (FPS), targeting €700–900 million in total capital with an initial €300 million anchor investment from BNP Paribas.
- • The fund will deploy 30–50 minority co-investments across European small and mid-cap companies, with individual deal sizes ranging from €10–50 million, leveraging BNP Paribas AM's relationships with 170 general partners managing €15 billion in assets.
- • Agility 2 represents the second vintage in BNP Paribas AM's European private equity co-investment strategy, following the original Agility Fund, which raised €739 million during 2020–2021.
- • The fund is classified as Article 8 under the European Sustainable Finance Disclosure Regulation (SFDR), reflecting environmental, social, and governance commitments in portfolio construction.
- • Management will be delivered by 15 investment professionals based in Paris, Brussels, and Madrid, drawing on 15 years of operational due diligence and GP relationship experience.
Summary
BNP Paribas Asset Management has announced the launch of its second co-investment vehicle, Agility Co-Invest Fund 2 SLP (Agility 2), a French-regulated FPS authorized by the Autorité des Marchés Financiers (AMF). The fund capitalizes on the established track record of BNP Paribas AM's flagship Agility Fund, which successfully raised €739 million throughout 2020 and 2021 and demonstrated demand for European co-investment opportunities among institutional investors.
Agility 2 targets a final capitalization of €700–900 million and has secured an anchor investment of €300 million from BNP Paribas, signaling strong internal conviction in the strategy. The fund strategy focuses on constructing a resilient, diversified portfolio of 30–50 minority equity positions across a pan-European landscape spanning multiple industrial sectors. Individual investments will range from €10–50 million per deployment, allowing flexibility in deal structuring and exposure concentration. The vehicle will pursue co-investments, flex equity instruments, and investments led by general partners, positioning it to capture opportunities across varying GP-led transaction profiles.
The investment team comprises 15 professionals distributed across Paris, Brussels, and Madrid offices, providing geographic diversification and on-ground presence in key European markets. This team draws on 15 years of institutional experience in operational analysis and GP selection. The fund will leverage BNP Paribas AM's broader private assets platform, which maintains relationships with 170 general partners and oversees €15 billion in managed assets and advisory mandates, creating a substantial origination network for sourcing deal flow from leading European sponsors.
Agility 2 is classified as an Article 8 fund under the European Sustainable Finance Disclosure Regulation (SFDR), committing the strategy to meeting elevated environmental and social characteristics in portfolio company selection and monitoring. The fund is currently available to professional investors in Spain and has commenced capital formation activities in advance of anticipated final close in May 2026.
Agility 2 targets a final capitalization of €700–900 million and has secured an anchor investment of €300 million from BNP Paribas, signaling strong internal conviction in the strategy. The fund strategy focuses on constructing a resilient, diversified portfolio of 30–50 minority equity positions across a pan-European landscape spanning multiple industrial sectors. Individual investments will range from €10–50 million per deployment, allowing flexibility in deal structuring and exposure concentration. The vehicle will pursue co-investments, flex equity instruments, and investments led by general partners, positioning it to capture opportunities across varying GP-led transaction profiles.
The investment team comprises 15 professionals distributed across Paris, Brussels, and Madrid offices, providing geographic diversification and on-ground presence in key European markets. This team draws on 15 years of institutional experience in operational analysis and GP selection. The fund will leverage BNP Paribas AM's broader private assets platform, which maintains relationships with 170 general partners and oversees €15 billion in managed assets and advisory mandates, creating a substantial origination network for sourcing deal flow from leading European sponsors.
Agility 2 is classified as an Article 8 fund under the European Sustainable Finance Disclosure Regulation (SFDR), committing the strategy to meeting elevated environmental and social characteristics in portfolio company selection and monitoring. The fund is currently available to professional investors in Spain and has commenced capital formation activities in advance of anticipated final close in May 2026.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.