BC Partners raises €664m for its first European real estate fund

London-based BC Partners has so far collected €664.3m for its debut European real estate strategy, regulatory filings show. The fund, BC Partners European Real Estate I fund, was launched last year and aims to acquire real estate assets in some of Europe’s largest cities, including London, Paris, Berlin and Madrid.

The fund’s target size has not been disclosed, but a person familiar with the situation said the firm is seeking to collect up to €700m. It is unclear when the fund will close. BC Partners declined to comment.

The strategy closed its first deal in November last year: a purchase of Wingate House, a mixed-use building in London’s Soho area. The 70,000 square foot property was acquired from Conegate, the property vehicle of West Ham United co-owner David Sullivan. It is understood that BC Partners paid below the asking price of £81m, as Private Equity News previously reported.

BC Partners set up its real estate arm in 2018, hiring Stéphane Theuriau, the former chief executive of French real estate company Altarea.

Established in 1986, BC Partners operates across private equity, private credit, and real estate. It has so far concluded 114 investments with a total enterprise value of €145bn across 18 countries in five sectors, according to its website.

Source: Private Equity News

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