BC Partners to close 10th buyout fund in coming weeks

Kenny Wastell
@kennywastell
21 November 2017

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BC Partners is anticipating a final close for its 10th fund in mid-January at a similar size to its predecessor, unquote" understands.

[Editor's note: BC Partners is the majority owner of Acuris, the parent company of unquote"]

BC IX closed on its €6.5bn hard-cap in February 2012, while BC X was launched in early 2016 with a €7bn target.

It is understood the GP is anticipating a handful of additional commitments to the vehicle, having recently received backing from LPs including Pantheon, AlpInvest Credit Suisse and Partners Group.

In August, Lexington Partners agreed a $1bn stapled secondary deal for commitments in funds IX and X – the primary/secondary split of the $1bn total was not disclosed, though previously reported terms indicated the secondary portion would account for around two thirds of the deal size. Prior to that deal, two sources told unquote" that BC X had raised €6bn.

According to unquote" data, BC X has also received significant commitments from LPs including Cathay Life Insurance, Canada Pension Plan Investment Board, Government of Singapore Investment Corporation, Landmark Partners and California State Teachers Retirement System.

BC has already made a number of investments from the vehicle, most recently as part of a consortium that acquired German ceramics manufacturer CeramTec from Cinven.