BNP appoints head of corporate development

The appointment by the French bank, which oversaw the development of independent buyout firms like Banexi and PAI Partners, signals a renewed emphasis on the asset class.

Daphné Dussauge has been appointed as head of corporate development at BNP Paribas Private Equity.

Daphné Dussauge:
looking to expand
BNP product range

A spokeswoman said she would be looking to develop new products and to diversify the business as it seeks to expand its funds under management. 

Dussauge will report to François Petit-Jean, head of development at BNP Paribas Private Equity. Alongside Petit-Jean, she will structure the business, the investment vehicles and partnership agreements at the captive firm, as well as overseeing business strategy.

Her appointment signals a greater emphasis by the bank on private equity. It manages €581 million ($915.8 million) across four different types of vehicle: fund of funds and investment management mandates; innovation funds; unlisted small cap funds and feeder funds.

BNP Paribas Private Equity and its affiliates have launched around 20 funds since 1998 with total committed assets of €2.6 billion.

Dussauge joined BNP Paribas at the beginning of 2006 as a fund manager in BNP Paribas Real Estate Investment Management, after spending three years as a consultant for Nordroy.

She was a senior banker at French bank Crédit Lyonnais for two years. In 1995 she became vice president of the corporate finance teams and subsequently the private equity teams at Union Bank of Switzerland in Paris.

The bank has in the past held several buyout teams, including mid-market buyout firm Banexi and larger buyout firm PAI Partners, which have both spun out of the French bank since the milennium.

PAI has subsequently demonstrated grand ambitions since leaving the bank in 2002. It is attempting to raise a €7 billion fund, which was launched last year. The firm also considered a €12 billion bid for Altadis, the tobacco company, alongside CVC Capital Partners, although PAI abandoned the bid in June, with sources close to the firm citing opposition from the Spanish and French governments.