BC Partners Said to Raise €2.2 Billion at New Fund’s First Close

BC Partners has secured investor commitments of about €2.2 billion ($2.5 billion) at the first close for its latest flagship fund, putting it almost half-way through to its target, according to people with knowledge of the matter.

The buyout group is seeking to raise €5 billion for BC Partners Fund XII by the end of this year or early next year at the latest, the people said, asking not to be identified as the information is private. Deliberations are ongoing, while the size and timing of the fundraising could change depending on market conditions, they said.