In this Wealth Solutions video, our Private Investments experts discuss investment opportunities in evergreen funds.
Wealth Solutions
Investing in private markets through evergreen funds
An investment in private markets means investing in companies or assets that are not listed on a stock exchange. The main private asset classes are private equity, private debt, infrastructure and real estate. These markets provide diversification and potential for attractive returns, often outperforming public markets over the long term. However, it is important to note that past performance is not indicative of future results.
What are evergreen funds?
Evergreen funds are perpetual investment vehicles in private markets. They allow investors to buy and sell periodically under certain conditions, offering more flexibility than traditional private equity funds. Investors contribute capital, which is then invested in private companies or assets. Profits from these investments are either distributed to exiting investors or reinvested.
Why invest in evergreen funds?
- Perpetual structure: no fixed end date, allowing continuous investment and redemption opportunities.
- Liquidity: limited to a percentage of the fund's net asset value per quarter, with potential holding periods and exit penalties. Liquidity is therefore possible but not guaranteed, hence the term “semi-liquid” funds.
- Accessibility: lower minimum investment tickets compared with traditional funds.
- Single contribution: investors make a one-time payment, with returns realised upon exiting the fund.
Evergreen funds enhance portfolio diversification by investing in a broad range of companies. They are easier to manage than traditional funds, as investors contribute capital upfront and do not need to handle ongoing cash flows. The perpetual nature of these funds allows for continuous reinvestment, potentially leading to significant long-term gains.
Our expertise
At BNP Paribas Wealth Management, we have extensive experience in private markets. Our team rigorously analyses and selects evergreen funds, and carries out post-investment monitoring. We emphasise the importance of conducting thorough due diligence and understanding the specific terms and conditions of each fund. Moreover, we advise our clients to make investments that align with their expectations, investment profile and knowledge of private markets.
For more information, please contact your relationship manager.
Evergreen funds allow investors to easily create a pocket of non-listed investments in their overall portfolio.
Claire Roborel de Climens
Global Head of Private and Alternative Investments
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