CAPZA has announced the successful first closing of its CAPZA Private Debt 7 fund, raising nearly €1.4 billion and already surpassing half of the total capital raised for its previous vintage. The fund marks a significant milestone for the firm’s private debt platform and underscores continued investor demand for its mid-market strategy.
CAPZA is part of BNP Paribas Asset Management Alts, which manages approximately €135 billion in private debt and alternative credit assets as of September 30, 2025.
The fundraising round drew renewed commitments from long-standing partners as well as support from new investors. More than 30% of total commitments came from international markets, including Germany, Belgium, Italy, Japan and the Middle East, reflecting CAPZA’s expanding global footprint.
CAPZA Private Debt 7 will provide financing to small and medium-sized enterprises and mid-cap companies primarily across France, Germany, the Benelux, Spain and Italy. The strategy focuses on unitranche and subordinated debt solutions, leveraging the firm’s local market expertise and sourcing capabilities.
Since the fund’s launch, five transactions totaling approximately €400 million have already been completed in France, the Netherlands and Germany. The investments target high-quality credit opportunities sourced through proprietary channels. CAPZA’s private debt team consists of eight European partners with an average of 26 years of experience, enabling the firm to structure and execute transactions in what it describes as a demanding European environment.
The fund prioritizes investments in resilient and low-cyclical sectors such as healthcare, technology and B2B services, aiming to minimize default risk while maintaining return objectives.
In line with prior vintages, CAPZA Private Debt 7 incorporates an advanced sustainability framework. Beyond pre-investment ESG due diligence, the firm intends to integrate sustainability-linked performance objectives into the financing terms of 75% of its unitranche investments.
KEY QUOTE:
“The growth of our fund demonstrates the relevance of our mid market private debt approach, which combines financial performance with sustainability. The success of this first closing underscores the trust our investors place in our ability to identify and structure high quality financings in a demanding European environment. Our strategy is built on a deep understanding of local markets, rigorous deal selection and prudent risk management. The growth of our fund demonstrates the relevance of our mid market private debt approach, which combines financial performance with sustainability.”
Christophe Fritsch, Global Head Of Alternative Credit At BNP Paribas Asset Management Alts
