The London-based private equity firm expects to launch fundraising in the second quarter of 2025 and targets a first close by year-end.
Despite a challenging fundraising environment, BC Partners is relying on its strong track record of exits to attract investors. In 2024, the firm returned €12bn to limited partners and co-investors, marking its highest annual distribution. Key deals included selling its majority stake in Dutch generic drugmaker Synthon to Goldman Sachs’ alternative investment division, divesting its controlling stake in Canadian security firm GardaWorld, and listing Springer Nature AG in Germany. The firm also exited Italian frozen bakery business Forno d’Asolo and sold a stake in IMA Industria Macchine Automatiche SpA to BDT & MSD Partners.
Investor preferences have shifted toward larger asset managers with diversified strategies or niche specialists, making fundraising more competitive. BC Partners closed its previous fund, BC Partners Fund XI, in 2022 with €6.9bn in commitments, achieving a net internal rate of return of 16%, according to Bloomberg data.
With €40bn in assets under management across private equity, private debt, and real estate, BC Partners is focusing on mid-market transactions, particularly defensive growth companies valued between €1bn and €2bn. The firm sees these businesses as offering strong upside while maintaining flexibility for exits.
Chief Operating Officer Fahim Ahmed highlighted BC Partners’ ability to navigate difficult market conditions. “While larger firms struggle with exits, we see this as the ideal environment for us,” he said.
The firm has also restructured its governance to enhance efficiency. Since 2018, BC Partners has centralized decision-making under sole Chairman Raymond Svider and reduced its management committee from nine partners to five.
Since these governance changes, BC Partners has deployed €9.5bn in equity investments. It has realized nine deals, generating an average gross multiple of 2.7 times invested capital.
With this performance, BC Partners is betting on investor confidence to drive a successful Fund XII raise, reinforcing its position in the competitive private equity market.
Source: Bloomberg
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