BC Partners has secured €2.2bn, equivalent to approximately $2.5bn, at the first close of its latest flagship vehicle, according to sources cited by Bloomberg.

The firm is targeting €5bn for Fund XII, positioning the first close at nearly halfway to its goal, with final closing expected by late 2026 or early 2027, subject to market conditions.

The fundraising comes as investor allocations shift towards Europe, with some limited partners reducing exposure to US markets amid heightened volatility.

At the same time, investors remain focused on managers with strong realisation track records, favouring firms with proven exit capabilities in a more challenging deal environment.

BC Partners has generated approximately €18bn of equity value for its funds and co-investors since 2023, underscoring its performance credentials.

The fund has already begun deploying capital, completing its first investment in Fortidia, an Italian logistics platform acquired from the Fiorelli family and Oaktree Capital Management.

The final size and timing of the fundraise remain subject to investor demand and prevailing market conditions.

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