Mayer Brown represented BNP Paribas in connection with its role as a lead arranger for the lenders party to the Veterans Coordinated Approach to Recovery and Employment (Veterans CARE), a Pay for Success project credit facility to improve employment outcomes for veterans with service-connected post-traumatic stress disorder (PTSD). This project is supported by the Department of Veterans’ Affairs, the city of Boston, New York City partners and the Commonwealth of Massachusetts.

BNP Paribas, an important and long-standing global client of Mayer Brown, engaged the firm to represent them in this highly transformational social impact financing that will benefit veterans with service-connected PTSD.

Banking & Finance partners Scott Zemser and Adam Wolk, who led the Mayer Brown team, said, “It was a deep privilege to play a role in such an important social impact financing that will have lasting direct and immediate benefits to our nation’s veterans who have been afflicted with service-connected PTSD. We are delighted to continue our partnering with BNP Paribas on social impact Pay for Success financings such as the Veterans CARE project.”

The Veterans CARE project will serve 480 veterans over three years in New York City, and Boston, as well as Brockton and central and western Massachusetts. Local Veteran Affairs (VA) Medical Centers will deliver Individual Placement and Support, an evidence-based approach to support employment to program participants. The Tuscaloosa VA Medical Center will oversee and monitor implementation of services.

As Bob Hawley, CEO of BNP Paribas CIB Americas & Head of Global Markets Americas, stated, “BNP Paribas has a proven track record of investing in Pay for Success projects in order to drive social change across the Americas. Through the Veterans CARE project, we are determined to help improve employment possibilities for US veterans living with Post-Traumatic Stress Disorder.”

Mayer Brown’s Social Finance group includes nearly 90 lawyers across offices in North America, Europe, Latin America and Asia. The group aims to leverage its strengths in finance, mergers and acquisitions, private investment funds, regulatory and corporate law, together with the firm’s global resources to assist clients in complex transactional work related to social finance. Mayer Brown has been recognized by the Financial Times for its market leading accomplishments in social finance.