
BPC wins £250m mandate from NLF
Recently launched fund-of-funds manager British Patient Capital (BPC) has won the mandate to manage £250m on behalf of the Nuclear Liabilities Fund (NLF).
The mandate from NLF marks the first time BPC has raised third-party funds since its foundation as a subsidiary of the British Business Bank (BBB) in June 2018. It was launched with the intention of pursuing a sale or flotation once it has developed a track record.
The latest development will see the firm target investments in venture capital and growth capital funds, in order to generate funds to support the costs of decommissioning eight UK nuclear power stations currently managed by EDF Energy.
The funds-of-funds manager invests in fixed-term and evergreen funds, as well as pursuing co-investment opportunities. It is led by CEO Catherine Lewis La Torre, formerly the head of private equity at Cardano Risk Management, as well as managing director at Fondinvest Capital, a founding partner at Proventure and an investment manager at Cinven. BPC has made commitments to 31 vehicles to date, according to a statement.
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater