BPC wins £250m mandate from 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.

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• Topics
• UK / Ireland
• Funds
• Fund-of-funds
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