BNP Paribas has just completed the purchase of a 60% equity investment in the US company, Capstar Partners, LLC which ranks among the leading US asset financing consultants and arrangers. Since BNP Paribas is one of the foremost players in this market in Europe, the linkup of the two groups will create a global leader in structuring asset financing deals.
The new structure, to be comprised of BNP Paribas' Asset Finance group and Capstar Partners, LLC, includes 50 professionals based in Europe, the United States and Asia/Australia. Their combined expertise will give leading international customers innovative solutions to financing highly diversified equipment (industry, energy, transportation, telecommunications, ...).
This linkup is in the form of a cross-alliance which contemplates that BNP Paribas will increase its equity stake to 75% of Capstar Partners, LLC in 2002, and the current partners will take a 20% equity stake in a newly formed European entity, Capstar Partners SAS. The partners will continue to manage the day-to-day business and activities of Capstar Partners, LLC, and they will be involved at the highest level of management of the new global group.
Philippe Blavier, a member of BNP Paribas' Executive Committee, in charge of corporate and investment banking, said: "This acquisition is consistent with our global Structured Finance business and a continuation of our North American objective to pursue an active policy of growth in specialized products.".