BC Partners Weighs Record 8.5 Billion-Euro Fundraising
BC Partners Weighs Record 8.5 Billion-Euro Fundraising
(Bloomberg) -- Private equity firm BC Partners is considering raising its biggest-ever fund as early as next year, people familiar with the matter said.
The London-based firm has held preliminary talks with investors about raising about 8.5 billion euros ($9.4 billion) for its 11th pool of capital, said the people, who asked not to be identified because the plans are private.
The firm won’t be the only fund coming to market in 2020. CVC Capital Partners is also targeting to raise a record amount of more than 18 billion euros for its flagship fund, while EQT AB could raise as much as 14 billion euros, people familiar with the plans said previously.
It took about 18 months before BC finally hit its target of 7 billion euros in 2018 for its 10th fund as one of its major investments, a holding in Intelsat SA, soured. “The next judgment will come when we raise again,” Chairman Raymond Svider said in an interview in October last year. It has invested or committed more than 70% of that fund, the people said.
A representative for BC declined to comment.
BC-backed United Group agreed this week to buy Bulgarian Telecommunications Co., known as Vivacom, in a deal said to be valued at 1.2 billion euros. In August, the firm struck a $1.3 billion deal for Presidio Inc. that took the New York-based information-technology services company private.
BC was founded in 1986 by Otto van der Wyck and John Burgess. The company invests across a number of sectors including telecommunications, media and technology, health care, industrial and consumer.
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