Blackstone Alternative Asset Management has acquired a passive, minority stake in BC Partners. Financial terms weren’t announced. The investment was made by BAAM’s Strategic Capital Group. BC Partners, of London, is an investment firm with over 22 billion euros of assets under management in private equity, private credit and real estate.
August 6, 2019 – BC Partners, a leading international private equity firm, today announced that Blackstone Alternative Asset Management (“BAAM”) has acquired a passive, minority investment in the firm. Specific terms of the transaction were not disclosed.
The investment was made by BAAM’s Strategic Capital Group, its team that specializes in minority partnerships with leading alternative asset managers.
This investment will provide BC Partners with increased balance sheet capital to further invest in its business and expand its capabilities in line with the needs of the firm’s investors. Most recently, BC Partners launched a real estate business and established a private credit platform to expand on its private equity business.
Raymond Svider, Partner and Chairman of BC Partners, said, “This investment is a testament to the growth and institutionalization of our business, and will enable us to take the Firm to the next level for the benefit of our investors. We look forward to leveraging Blackstone’s best-in-class resources and exceptional talent as we look to expand and strengthen our platform across our three key verticals.”
Scott Soussa, Head of BAAM’s Strategic Capital Group, said, “BC Partners has a three-decade track record investing across sectors and geographies. This, combined with the strength of their people and processes, has allowed the firm to earn the trust of a diverse set of LPs around the world. We look forward to helping enable their continued growth in private equity, as well as their further expansion into newer areas like real estate and private credit.”
Evercore acted as financial advisor to BC Partners. Simpson Thacher & Bartlett served as legal counsel to BC Partners and Kirkland & Ellis LLP served as legal counsel to Blackstone.
About BC Partners
BC Partners is a leading international investment firm with over €22 billion of assets under management in private equity, private credit and real estate. Established in 1986, BC Partners has played an active role in developing the European buy-out market for three decades. Today, BC Partners executives operate across markets as an integrated team through the firm’s offices in North America and Europe.
Since inception, BC Partners Private Equity has completed 112 private equity investments in companies with a total enterprise value of €135 billion and is currently investing its tenth private equity fund. For more information, please visit www.bcpartners.com.
Blackstone Alternative Asset Management (BAAM®) manages approximately $81 billion across a diversified set of businesses, including a customized portfolio solutions business, a special situations platform, a business that purchases GP stakes in alternative asset managers, an open-ended mutual fund platform, and an emerging manager seeding business. BAAM invests across a variety of asset classes and strategies to create solutions for its investors. Through its sharp focus on clients’ goals, a rigorous due-diligence process and access to Blackstone’s global insights, BAAM strives to generate attractive risk-adjusted returns across market cycles while mitigating downside risk during stressed market environments.