BC Partners Credit, BC Partners’ credit arm, has closed its second special opportunities fund at $1.2 billion, beating its $750 million target. The fund is focused on private originations and secondary investments in North American and European markets.
New York, NY, December [14/15], 2021 – BC Partners Credit, the credit arm of BC Partners, a leading alternative asset management firm, announced today the final closing of Special Opportunities Fund II (“SOF II” or “the Fund”). The Fund was oversubscribed at $1.2 billion relative to its $750 million target.
Upon Ted Goldthorpe joining BC Partners in February of 2017, BC Partners embarked on developing its credit strategy as an expansion of its capital investment activities. These efforts included building out an experienced team of 17 investment professionals, including Partners and co-founders, Matthias Ederer and Henry Wang, with a goal of leveraging the competitive advantages of the BC Partners platform. The team pursues a differentiated strategy that pivots opportunistically between private and public market sourced opportunities and seeks to partner with management teams by embracing a value-added lending approach.
BC Partners secured broad support from a diverse group of global investors and SOF II benefitted from strong demand from both existing and new LPs, with 100% of institutional investors in SOF II’s predecessor fund renewing their commitment.
“We are deeply appreciative of the support from our investors in Special Opportunities Fund II,” said Ted Goldthorpe, Head of BC Partners Credit. “The breadth of our mandate, the differentiated sourcing channels and our focus to provide not only capital, but also deep industry expertise to management teams we partner with, put us in an advantageous position to deploy capital in investments with attractive risk-adjusted returns.”
“Under Ted’s leadership, the BC Partners Credit platform has grown consistently and the closing of SOF II above the target size marks another important milestone,” said Raymond Svider, Chairman of BC Partners. “The Credit team plays an integral part in the future of our business and the entire BC Partners platform benefits from the synergies between Credit and Private Equity.”
About BC Partners Special Opportunities Fund II:
SOF II is an all-weather, nimble strategy encompassing illiquid and liquid opportunities. The Fund focuses on private originations and secondary investments in North American and European markets. Returns are driven by current income, capital appreciation, structural protections, and monetizing illiquidity premia.
About BC Partners Credit:
BC Partners Credit was launched in February 2017 and has pursued a strategy focused on identifying attractive credit opportunities in any market environment. The platform leverages the broader firm’s deep industry and operating resources to provide flexible financing solutions to middle-market companies, often in more complex and less competitive market segments.
About BC Partners:
BC Partners is a leading asset management firm with over €40 billion in assets under management across the private equity, private debt and real estate segments. Established in 1986, BC Partners has played an active role for three decades in developing the European buy-out market. Today, senior staff from BC Partners’ offices in North America and Europe work as an integrated team serving multiple markets. Since its foundation, BC Partners has completed 124 private equity investments in companies with a total enterprise value of over €161 billion and is currently investing its eleventh private equity fund.