Former BNP Paribas Private Equity managing partner Brice Lionnet has spun out the firm’s direct buyout arm alongside fellow members of the team.
BNP Paribas will keep control of its fund of funds business according to a document published on the website of the new firm, Isatis Capital.
It said Isatis will take over management of BNP’s direct funds .
Earlier this year the management team of green infrastructure investment firm BNP Paribas Clean Energy Partners (BNP CEP) spun out to create Glennmont Partners.
BNP remained an investor in the €437m fund and will continue to support the new business through a distribution agreement, it said.
Glennmont held a €200m first closing for its second clean energy investment fund earlier this month.
The firm said the fund has a final target of €450m, although a recent SEC filing suggested it could seek as much as €50om.
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