European buyout house BC Partners has reached a final close on BC European Capital IX at the fund’s hard cap of 6.5 billion euros ($8.62 billion). There was strong demand from both existing and new investors leading to a 60% increase in the firm’s investor base and a fund size 14% larger than the preceding fund.
BC Partners announces the final closing of BC European Capital IX (“BCEC IX” or “the Fund”) having successfully attained the Fund’s hard cap of 6.5 billion euros ($8.62 billion) in investor commitments. Strong demand was generated from both existing and new investors leading to a 60% increase in the firm’s investor base, a fund size 14% larger than the preceding fund and the Fund being oversubscribed.
BC Partners secured a substantial amount of commitments from the majority of existing investors which was further supported by a significant number of new investors across the globe. Of the total commitments, approximately 40% was raised from investors in North America, 30% from investors in Europe and 30% from investors in Asia and the Middle East. Investors include a broad range of pension funds (37%), sovereign wealth funds (25%), fund of funds (12%) and other major institutions such as banks, insurance companies, endowments and foundations.
The investment strategy of BCEC IX will mirror the strategy implemented in the eight previous BC Partners’ Funds of the last 25 years. BCEC IX will focus on acquiring controlling equity positions in market leading businesses exhibiting defensive growth characteristics. In line with this strategy, BCEC IX completed its first investment in September 2011 with the acquisition of Com Hem, Sweden’s leading TV, broadband and telephony company.
Charlie Bott, Head of Investor Relations and a Managing Partner at BC Partners, said:
“I am delighted with the enthusiastic response from existing and new investors from around the world, particularly in the context of a challenging fundraising environment. This success is testament to BC Partners’ strong track record of consistently delivering top quartile performance for investors over the past 25 years. We are excited by the opportunities ahead of us and confident we can continue to generate strong returns for our investors.”
Charlie Bott Laura Coquis Tel: +44 20 7009 4800
Peter Hewer, Ed Orlebar, Martha Kelly Tel: +44 20 7353 4200
About BC Partners
BC Partners is a leading private equity firm with advised funds of €12.6bn ($16.4bn). Established in 1986, BC Partners has played an active role in developing the European buy- out market for 25 years. BC Partners principally invests in Europe, acquiring and developing European and multinational businesses to create value in partnership with management.
Since inception, BC Partners has completed 79 investments in companies with a total enterprise value of €74 billion.
21 February, 2012, 9.15am GMT