Securities Services at BNP Paribas, a leading global custodian with USD 17.5 trillion in assets under custody[1], announces its mandate with Bpifrance to provide a range of securities services for its “Bpifrance Défense” S.L.P. fund, labelled ELTIF II and accessible to retail investors.
Bpifrance is the French public investment bank dedicated to financing and supporting business development. Its new “Bpifrance Défense” fund marks a new milestone in the democratisation of investment in unlisted companies, enabling retail investors, at the end of the lock-up period, to invest in over 500 unlisted companies operating in the strategic sectors of defence and sovereignty[2].
Following a competitive tender process, BNP Paribas has been selected by asset manager Bpifrance Investissement to support this fund. The bank’s technological innovation, supported by its tailored product solutions, enables the distribution of the fund to a broad base of retail investors while managing high volumes of transactions. This partnership demonstrates BNP Paribas’ capability to deliver advanced services, combining operational efficiency with great flexibility to adapt to market requirements.
Through this mandate, BNP Paribas’ Securities Services business acts as depositary bank, custodian, and registrar for fundholders, further strengthening its already well-established partnership with Bpifrance Investissement.
Nadia Charlemagne-Sarri, COO of Bpifrance Investissement, commented: “As of 30 June 2026, the Bpifrance Défense fund has raised more than 100 million euros, which reaffirms our innovative positioning in the field of investment solutions for retail investors. From the fund’s launch to its development, BNP Paribas’ Securities Services business contributes to the success of this thematic fund through the commitment of its teams and the operational efficiency of its platform.”
Pauline Bernard, Regional Head of France and Belgium, Securities Services, BNP Paribas, stated: “We are delighted to strengthen our partnership with Bpifrance and, through this fund, to contribute to supporting the real economy and French sovereignty. We remain committed to supporting Bpifrance over the long term in its projects serving the public interest.”
[1] As of 30 June 2026. Source: BNP Paribas’ Securities Services website
[2] Bpifrance’s press release dated 14 October 2025: Bpifrance launches the ‘Bpifrance Defense’ fund, allowing individuals to invest in mainly unlisted companies in the defense and technological sovereignty sector.
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Press contacts
Securities Services at BNP Paribas
Vivian Lai, Global Media Relations and External Communications Manager
vivian.lai@uk.bnpparibas.com
+44 (0) 7350 433 306
Bpifrance
Institutional Relations and Media Department
Sophie Santandrea | sophie.santandrea@bpifrance.fr | +33 6 46 34 79 58
Claire Joly | claire.joly@bpifrance.fr | +33 6 69 47 14 76
About Securities Services at BNP Paribas (securities.cib.bnpparibas)
BNP Paribas’ Securities Services business is a leading global custodian providing multi-asset post-trade and asset servicing solutions to buy-side and sell-side market participants, corporates, and issuers. With a global reach covering 90+ markets, its custody network is one of the most extensive in the industry, enabling clients to maximise their investment opportunities worldwide. As a pillar of BNP Paribas’ diversified banking model, Securities Services provides asset servicing solutions that are closely integrated with the first-class services of the Group’s other business lines, in particular those of Global Banking and Global Markets.
As of 30 June 2026, Securities Services had USD 17.5 trillion in assets under custody, USD 3.4 trillion in assets under administration and 9,278 funds administered.
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About Bpifrance (www.bpifrance.fr)
Bpifrance is the French national investment bank: it finances businesses – at every stage of their development – through loans, guarantees, equity investments and export insurances. Bpifrance also provides extra financial services (training, consultancy) to help entrepreneurs meet their challenges (innovation, export…).
For more information, please visit: https://www.bpifrance.com/ Follow us on LinkedIn: Bpifrance LinkedIn and on X : @Bpifrance – @BpifrancePresse
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