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BC Partners LLP is a British[5] international investment firm with over $40 billion of assets under management across private equity, credit and real estate in Europe and North America.[4] Its global headquarters are in London. The firm invests across all industries. BC Partners was founded in 1986 and has offices in New York, Paris and Hamburg.[6] Since inception, BC Partners has completed 113 private equity investments in companies with a total enterprise value of €145 billion.[7]

Key Information

As one of the largest European private equity firms, BC Partners competes for buyouts and investment opportunities with other large cap private equity firms including Blackstone Group, KKR, CVC Capital Partners, Advent International and The Carlyle Group.[8][9] The firm raised its eighth fund in 2005, which at the time made it the largest European buyout fund. Raised in less than five months, the fund was heavily oversubscribed. Investors in previous funds supplied 90% of the capital.[10] The firm's most recent fund, BC Partners X, was one of the largest buyout funds raised in 2018.[11]

BC Partners was until recently majority shareholder of Intelsat, the global satellite services provider valued at US$16.6 billion in its leveraged buyout in 2007—one of the largest private equity buyouts of all time led by a consortium of investors including BC Partners and Silver Lake Partners. In 2008, BC Partners replaced Intelsat's chairman with Raymond Svider, BC's New York–based co-chairman.[12] Sometime between 2008 and 2018, BC Partners sold all of Intelsat to the company.

In August 2025, the firm attracted international scrutiny after leaked recordings showed executives of its portfolio company United Group discussing cooperation with state-owned Telekom Srbija and Serbian President Aleksandar Vučić in ways that could weaken United Media, the country’s last major independent broadcaster.[13]

History

[edit]

The firm, founded in 1986 as Baring Capital Investors Ltd. by Otto van der Wyck, who was also a co-founder of CVC Capital Partners. Originally, BC Partners was formed by Barings to advise funds providing development capital, in particular for management buyouts. John Burgess joined him from Candover, the US and UK buyout house, a month after.[14] The principals of Baring Capital Investors completed a spinout of what would become BC Partners following the collapse of Barings in 1995.[15] Van der Wyck left the firm in 2001, and has held senior roles with firms including Coller Capital, Climate Change Capital and AlpInvest Partners.

Raised / Announced Fund Vintage Year Fund Size (USD)
BC Partners X 2017 €7.0 billion[11][16]
BC Partners IX 2011 €6.7 billion[17][16]
BC Partners VIII 2005 €5.9 billion [18]
BC Partners VII 2000 €4.3 billion[19]
BC Partners VI 1998 €1.1 billion
BC Partners V 1994 €450 million

Significant transactions

[edit]
Washington D.C. headquarters of BC Partners-owned satellite operator Intelsat
One of BC Partners-owned Migros Türk retail stores. The company is Turkey's leading supermarket chain.

As of December 31, 2019, BC Partners portfolio includes 114 companies with aggregate sales revenue of €145 billion.[20] BC Partners can commit over $2.75 billion (€2.0 billion) of equity to any single transaction. The firm's most successful and profitable realized investments include General Healthcare (leading acute care hospital provider and independent provider of psychiatric care), C&C Group plc (leading seller of alcoholic and non-alcoholic beverages), Galbani (market-leading cheese company) and Phones 4u (leading mobile phone provider in the UK - until its bankruptcy in September 2014).

In June 2013, BC Partners agreed to buy German publisher Springer Science+Business Media for about 3.3 billion euros.[21]

BC Partners revealed in January 2015 that it would sell its 40.25 percent stake in its supermarket chain Migros Türk to the Turkish conglomerate Anadolu Endustri Holding AS for around $2.74 billion.[22]

In June 2019 Chewy, which was acquired by BC Partners in 2017, and is the online pet retailer division of PetSmart, announced its IPO on the NYSE when it was valued at $8.8 billion.[23]

In 2019, BC Partners announced their backing for the acquisition[24] (via the United Group) of Vivacom, the largest Bulgarian telecom. The acquisition became an issue of the media and legal dispute with the company's previous owner, Empreno Ventures, which asked BC Partners[25] to wait until judicial resolution.

On November 7, BC Partners was added to a lawsuit by Empreno seeking to ban the sale of Vivacom.[26]

In early 2021, the firm entered into talks with Inter Milan owner Suning about potentially buying the football club.[27]

Year Company name Description of BC Partners Transaction[28]
2022 Fedrigoni US$3.0 billion for 50% stake [29]
2022 Havea Group US$1.1 billion (approx.)[30]
2018 GFL Environmental CAD$5.1 billion for majority stake in waste services company GFL Environmental.[31]
2018 United Group €2.6 billion for majority stake in telecom provider United Group.[32]
2018 Navex Global Acquisition of ethics and compliance software and services company NAVEX Global from Vista Equity Partners[33]
2017 Chewy $3.4 billion for the e-commerce company specializing in pet products — largest e-commerce acquisition in history [34]
2016 CenturyLink $2.3 billion acquisition of data center operations.[35]
2016 Keter €1.4 billion for the acquisition of global manufacturer of quality resin consumer products[36]
2016 Elysium Healthcare £360 million for the acquisition of a portfolio of mental health hospitals from Partnerships in Care and the Priory Group[37]
2014 Cartrawler Car rental technology platform bought from ECI Partners[38]
2014 PetSmart $8.7 billion acquisition of pet services and products vendor[39]
2013 Acuris Acquisition of MergerMarket, now called Acuris, news service from Pearson plc[40]
2012 Sullair Milton Roy Sundyne $3.4 billion LBO of industrial business engaged in the design, manufacture and supply of specialist pumps and compressors[41]
2012 Suddenlink $6.5 billion LBO of 7th largest cable communications system operator in the US;[42] sale of 70% interest in Suddenlink held by BC and Canada Pension Plan Investment Board for $9.1 Bn announced in May 2015[43]
2011 Phones 4u Bought for £700 million; entered into administration on 15 September 2014[44][45]
2011 Com Hem Largest LBO in Europe in 2011[46]
2010 MultiPlan $3.1 billion LBO of provider of health care cost management services
2009 Office Depot provider of office products and services
2008 SGB-SMIT Group Manufacturer of transformers (sold in 2017)
2008 Migros Türk Turkey's leading supermarket chain
2008 Intelsat $16.6 billion acquisition of fixed satellite service provider
2007 Foxtons UK estate agency, bought at the top of the property market in May 2007 for £370 million[47] In December 2009, BC Partners lost control of Foxtons, less than three years after buying it, after creditors reorganized the real estate broker's debt.[48]
2006 Brenntag Second largest LBO in Germany to date
2006 Regency Entertainment Largest public-to-private LBO in Greece to date
2005 Amadeus IT Group Largest LBO in Spain to date
2004 Picard Largest LBO in France that year
2003 SEAT PG Largest LBO in Europe at the time
2002 Hirslanden Largest LBO in Switzerland that year
2001 Sanitec Largest public to private LBO in Finland to date
2000 Mark IV Largest LBO in the US by a European sponsor at the time

United Group recordings controversy

[edit]

In August 2025, BC Partners’ portfolio company United Group became the subject of public scrutiny in Serbia following the publication of leaked recordings of its chief executive officer, Stan Miller. The recordings, published by the Organized Crime and Corruption Reporting Project (OCCRP), revealed discussions between Miller and Vladimir Lučić, the director of state-owned Telekom Srbija, about strategies that could weaken United Media, a subsidiary of United Group and the last major independent broadcaster in the country.[49]

The recordings also included references to United Media’s long-time director, Aleksandra Subotić. In the conversation, Miller stated that he could not yet dismiss Subotić, while adding that he understood President Aleksandar Vučić had called Lučić and was upset about the delay. Miller also said he needed to “make [the company] very small in Serbia” and to separate it, referring to restructuring plans that would affect United Media. He further mentioned the need to accelerate arrangements with banks and an escrow account in order to facilitate the process.[50]

The recordings also showed Miller referring to Nikos Stathopoulos, chairman of BC Partners, suggesting that awareness of the talks extended beyond local management to the main shareholder level.[51] United Group subsequently confirmed the authenticity of the recordings, while stating that the conversations were taken out of context.[52]

The incident sparked concerns among media-freedom advocates, given the close ties between Telekom Srbija and Vučić’s government. Analysts suggested that the controversy raised questions about BC Partners’ stewardship of its media assets in the region and whether investor interests were being adequately safeguarded. Commentators also noted that the conversations were unusual because Telekom Srbija is a direct competitor of United Group and United Media in the Serbian telecommunications and media market.[53] Media analysts and press freedom advocates interpreted the recordings as evidence of political pressure aimed at bringing Serbia’s last major independent broadcaster under closer government influence, with BC Partners’ management appearing to cooperate in the process.[54]

References

[edit]
[edit]
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BC Partners

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BC Partners is a leading international firm founded in 1986 and headquartered in , . The firm manages approximately €40 billion in assets across , , and strategies, operating with deep networks in and . Originating as one of the earliest pan-European specialists, BC Partners has evolved into a diversified manager emphasizing growth opportunities, , and proprietary relationships with local partners. The firm's strategy focuses on upper mid-market investments in defensive growth sectors, including technology, media and telecom (TMT), services and industrials, healthcare, and food, with a hands-on approach to value creation through operational enhancements and sector expertise. Its arm delivers customized financing solutions, such as and specialty finance, to companies in and , managing a diversified portfolio that includes dislocated credit opportunities. Complementing these, the real estate strategy targets high-quality assets in European markets like residential, hospitality, and industrial properties, aiming for sustainable growth and income generation. Guided by a partnership-centric culture rooted in intellectual honesty, continuous learning, and entrepreneurialism, BC Partners maintains a track record of strong returns, having distributed approximately €17 billion to limited partners over the past two years (as of October 2025) while actively for new flagship vehicles, having raised €1.8 billion toward a €5-6 billion target. The firm integrates environmental, social, and governance (ESG) considerations into its investment processes, aligning with regulatory standards and promoting diverse teams.

Overview

Founding and Headquarters

BC Partners was founded in 1986 as Baring Capital Investors Ltd. by Otto van der Wyck in , with John Burgess joining shortly thereafter as a key early partner. The firm initially operated as an affiliate of Baring Brothers, focusing on leveraged buyouts in Europe. In 1995, following the collapse of , the management team executed a of Baring Capital Investors, leading to its renaming as BC Partners to signify its independence from the Baring group. This transition marked a pivotal shift, allowing the firm to operate autonomously while building on its established expertise. Over the subsequent decades, BC Partners evolved from a pan-European specialist into a leading international manager, expanding its scope across , , and strategies. The firm's global headquarters have been located at 40 Portman Square, London, W1H 6DA, United Kingdom, since its inception, serving as the central operational hub for its worldwide activities. This London base underscores BC Partners' enduring roots in the European financial ecosystem while supporting its international presence.

Investment Focus and Assets Under Management

BC Partners operates as an alternative investment manager with a primary focus on three complementary strategies: private equity, private credit, and real estate. In private equity, the firm pursues control-oriented buyouts targeting upper mid-market companies with strong growth potential and defensible market positions, emphasizing hands-on operational improvements to enhance value. The private credit arm provides direct lending solutions, including secured loans to sponsor-backed and non-sponsor businesses for stable yields, alongside opportunistic credit opportunities such as specialty lending and structured equity to capture attractive returns across market cycles. Meanwhile, the real estate strategy encompasses value-add investments in assets requiring active management for optimization—such as residential, hospitality, and logistics properties—and core investments in high-quality, stable assets with long-term growth prospects, primarily in Europe. The firm maintains a global mindset, leveraging deep local expertise and networks in and to identify and execute opportunities. With offices in key locations including , New York, and , BC Partners draws on nearly four decades of experience to navigate cross-border transactions while prioritizing regional insights. Although the firm invests across a broad range of industries without strict sector restrictions, its efforts particularly concentrate on high-potential areas such as technology, media, and telecom (TMT); services and industrials; healthcare; and , enabling targeted partnerships that drive sustainable growth. As of June 30, 2025, BC Partners manages circa €40 billion in assets, encompassing dedicated funds, co-investment vehicles, and separate accounts across its strategies, reflecting its scale as a leading player in alternative investments. This substantial asset base supports a disciplined approach to capital deployment, with an emphasis on long-term partnerships with founders, entrepreneurs, and management teams to foster and value creation. The firm's partnership-centric model prioritizes transparency, collaboration, and aligned incentives to build enduring relationships that extend beyond initial investments.

History

Establishment and Early Development

BC Partners was launched in 1986 as Baring Capital Investors Ltd., a specialist arm of Baring Brothers established to capitalize on the burgeoning European market. Headquartered in , the firm began by managing modest funds dedicated to mid-market leveraged buyouts, primarily targeting opportunities in the and . This period marked the inception of a model that emphasized long-term collaboration among investment professionals, setting the foundation for its operational approach. In its formative years through the late and early , Baring Capital Investors focused on acquisitions in established sectors such as and services, executing deals that supported management buyouts and operational improvements in portfolio companies. These investments were typically smaller in scale, reflecting the nascent stage of the European private equity landscape, and helped build initial expertise in cross-border transactions across diverse European markets. Representative examples included targeted buyouts in industrial and consumer-facing businesses, which demonstrated the firm's ability to identify undervalued assets amid in the region. The firm achieved full independence in 1995 when its four founding partners, including Otto van der Wyck, acquired the business from the collapsing Baring Brothers following the latter's high-profile insolvency. Renamed BC Partners, this management buyout severed ties with the parent bank and enabled greater strategic autonomy. In the mid-1990s, the newly independent entity conducted its first significant fundraise, attracting commitments that solidified its track record through profitable early exits, including partial sales of holdings in key portfolio companies. By the late 1990s, these efforts had positioned BC Partners as a established player in European private equity, managing over €1.75 billion in funds.

Global Expansion and Key Milestones

BC Partners began its global expansion into the in the early 2000s, transitioning from a primarily pan-European focus to transatlantic operations. This move was underscored by the establishment of its New York investment office around 2005, which has since supported nearly two decades of deal activity in . A pivotal early in this expansion was the 2000 acquisition of Mark IV Industries, a U.S.-based auto components manufacturer, for approximately $2 billion including debt, representing the largest in the U.S. by a European sponsor at the time. Throughout the , BC Partners solidified its growth through substantial fundraising efforts, culminating in the 2012 final close of BC European Capital IX at its €6.5 billion hard cap, which ranked as the second-largest Europe-focused buyout fund raised since the global . Subsequent flagship funds, including BC European Capital X closed at €7 billion in 2018, further propelled the firm's scale, building its to over €40 billion across , credit, and strategies by 2025. The decade also marked strategic diversification beyond traditional , with the launch of its platform in 2017 to provide bespoke financing solutions to middle-market companies in and . In 2018, BC Partners extended into , establishing a dedicated strategy to complement its core investment activities and broaden its global platform. More recently, in August 2025, BC Partners Credit announced the launch of the III fund in with BMO Sponsor Finance, targeting around $2 billion in commitments for middle-market opportunities, succeeding the $1.6 billion Great Lakes II. In a notable , BC Partners entered joint ownership of Italian specialty materials producer Fedrigoni with in 2022, in a transaction valuing the company at €3 billion and enhancing its European industrials presence. In 2025, BC Partners and co-owner Pollen Street Capital took portfolio company Shawbrook Group public on the London Stock Exchange in a £348 million IPO, valuing the UK specialist bank at approximately £2 billion. In November 2025, BC Partners-backed Davies Group acquired Canada's SCM Insurance Services, creating a combined entity with over £3.25 billion in annual revenues and expanding its global insurance services footprint.

Investment Strategies

Private Equity

BC Partners' private equity strategy centers on control-oriented buyouts of upper mid-market companies, typically with enterprise values exceeding €500 million, targeting market-leading businesses in Europe and North America. The firm seeks investments in companies exhibiting strong market positions, scalable business models, and significant potential for operational enhancements, often in defensive growth sectors such as technology, media, and telecom (TMT), services and industrials, healthcare, and consumer goods including food. These criteria ensure downside protection while providing multiple avenues for expansion, with a sector-agnostic approach underpinned by deep expertise in select industries. Value creation is achieved through an model that emphasizes hands-on collaboration with management teams, founders, and families to drive sustainable growth. Key tactics include fostering revenue acceleration via global scaling and , expanding margins through operational efficiencies and cost optimizations, and executing strategic add-on acquisitions to broaden capabilities and market reach. This partnership-oriented methodology, supported by dedicated investment and portfolio operations teams, focuses on building resilient, high-performing companies over typical hold periods of 4 to 7 years. Since its inception in 1986, BC Partners has executed over 130 investments across approximately 19 countries, encompassing companies with a cumulative enterprise value surpassing €160 billion. This track record reflects the firm's commitment to long-term value enhancement, having raised 11 successive flagship funds dedicated to this strategy.

Private Credit

BC Partners entered the private credit space in February 2017 with the launch of BC Partners Credit, a dedicated platform focused on and credit investments targeting middle-market companies. The emphasizes providing senior secured loans, debt, and opportunistic credit solutions, often in illiquid, non-investment grade opportunities that generate attractive risk-adjusted returns through economic cycles. This approach complements the firm's activities by offering debt financing to support leveraged buyouts and growth initiatives without taking equity ownership. Key funds under the platform include the series, developed through a partnership with BMO Sponsor Finance using the Great Lakes trade name. The predecessor Great Lakes II fund raised $1.6 billion, focusing on to U.S. middle-market borrowers. In August 2025, BC Partners Credit launched Great Lakes III, targeting $2 billion in commitments for similar strategies, with strong investor continuity from prior funds. Additional vehicles include the Special Opportunities Credit series, such as SOF II, which closed at $1.2 billion in 2021, and SOF III, which raised over $1.4 billion in 2025, both targeting opportunistic credit investments across the . Since the platform's inception, the Great Lakes strategy has delivered an annualized current yield of 14% net to investors. The investment approach prioritizes proprietary deal flow and sector expertise to build diversified portfolios of credit opportunities, emphasizing income generation from higher-yielding assets in non-public markets. BC Partners Credit manages an $8.7 billion platform as of 2025, deploying capital across 50-100 positions per fund to mitigate concentration risk while pursuing yields in the 8-12% range for core . Risk management is central to the strategy, featuring robust covenant protections, collateral requirements, and active portfolio monitoring through regular reviews of risk-reward profiles and compliance. The firm conducts frequent assessments to ensure alignment with theses and responds proactively to market shifts. In March 2025, BC Partners Credit formed a $500 million co-investment alliance with KingsRock Advisors, enabling joint participation in and special opportunity transactions originated by KingsRock, thereby enhancing deal access and diversification.

Real Estate

BC Partners launched its investment in 2018, establishing a dedicated platform to pursue value-add and core-plus opportunities within commercial real estate sectors. This initiative leverages the firm's operational expertise to identify and capitalize on assets with significant upside potential, particularly those acquired at attractive prices through off-market or limited auction processes. The strategy emphasizes sectors benefiting from long-term trends such as sustainability, technology, and demographic shifts, aligning with BC Partners' broader framework across and credit. The focus encompasses a range of asset types, including , industrial, retail, and multifamily properties, concentrated in major pan-European markets, including the , , , , and . Investments typically involve deal sizes exceeding $100 million, targeting platforms and high-yielding assets that offer protection and operational uplift. This geographic emphasis allows BC Partners to deploy capital in established urban centers and hubs, where demand drivers support long-term value creation. At its core, the approach relies on proactive to enhance performance, encompassing repositioning underutilized , optimizing leasing strategies to boost occupancy and rental yields, and pursuing selective development initiatives to modernize portfolios. These efforts often integrate with the firm's capabilities to structure hybrid transactions that combine equity investments in operating platforms with real asset enhancements, fostering synergies in deal sourcing and execution. By prioritizing and motivated seller dynamics, especially in post-2022 repricing environments, BC Partners aims to generate superior risk-adjusted returns through hands-on involvement. Recent developments have seen the real estate platform expand via specialized teams led by industry veterans and the successful closure of dedicated funds, including an oversubscribed debut vehicle raising €900 million in total commitments in —well above its €500-700 million target. This growth has bolstered BC Partners' overall , which surpassed €40 billion by 2024 across its integrated strategies, underscoring the real estate arm's role in diversifying the firm's portfolio amid evolving market conditions. Continued activity, such as strategic equity commitments in expansion-focused platforms, highlights ongoing momentum in scaling the platform.

Portfolio and Transactions

Notable Current Investments

BC Partners maintains a diverse portfolio of active companies across its , , and strategies, emphasizing growth-stage scaling in sectors such as technology, media, , healthcare, and industrials. As of 2025, the firm supports and value creation in these holdings through strategic partnerships and targeted investments. In February 2025, a fund advised by BC Partners made a strategic of up to $150 million in convertible preferred units of ContextLogic Holdings, LLC, the parent entity of the Wish e-commerce platform, providing capital for potential while retaining significant ownership in the restructured business. In October 2025, BC Partners Credit, in partnership with FPG Amentum, announced the acquisition of Crianza Aviation, a South Korean leasing and platform, marking a key entry into the sector and Korea's first such M&A transaction for an aircraft lessor; the deal is expected to close in Q4 2025. Among its prominent active holdings, stands out as a leading integrated and media operator in , where BC Partners has driven expansion and strategic refocusing on markets following divestitures of non-core assets earlier in 2025. However, in 2025, the company faced a crisis, including a management revolt, legal disputes with founder Dragan Šolak over his dismissal, searches of its headquarters by prosecutors, and concerns raised by media watchdogs about the independence of its Serbian news outlets amid tensions with local authorities. In the healthcare , BC Partners entered exclusive negotiations in to acquire Biogaran from Servier, a French generic pharmaceuticals , aiming to strengthen its position as a national leader in affordable medications; the cleared the deal on November 14, , with completion expected by end- or early 2026. BC Partners also co-owns Fedrigoni, an Italian manufacturer of specialty papers and self-adhesive labels, in a joint ownership agreement with established in 2022 to support global expansion and innovation in sustainable materials.

Significant Past Transactions and Exits

BC Partners has executed over 110 investments since its founding, involving companies with a combined enterprise value exceeding €135 billion as of 2019. These transactions span various sectors, with early deals in the and often targeting and consumer goods firms, demonstrating the firm's initial focus on European buyouts and subsequent North American expansion. A prominent example is the 2007 acquisition of UK estate agency for £390 million, timed at the height of the housing boom. The deal, financed with significant debt, encountered difficulties following the , which slowed the property market and led to branch closures and a recapitalization in 2010. BC Partners gradually exited through partial sales, completing its full divestment by selling the remaining 20 million shares in 2015 amid ongoing market recovery efforts. In 2016, BC Partners formed Elysium Healthcare through the £320 million acquisition of 22 behavioral health facilities from US-based , integrating assets previously part of the and Partnerships in Care. This transaction created a leading provider of specialist services, with the new entity headquartered in and led by former executive Joy Chamberlain. Among key exits, the 2004 sale of German sanitaryware manufacturer to Texas Pacific Group and for €1.5 billion marked a successful outcome from its 1999 acquisition, where BC Partners had secured a controlling stake in the family-owned business. This deal, one of Europe's largest buyouts at the time, highlighted the firm's ability to drive operational improvements in portfolios during the early . Another notable transaction was the 2000 purchase of auto parts and conglomerate Mark IV Industries for approximately $2 billion, BC Partners' second major ; however, it was divested in 2008 at a reported loss exceeding €150 million due to economic pressures. These pre-2020 deals, including partial sales from investments in European companies, established BC Partners' track record in value creation through operational enhancements and strategic repositioning, contributing to sustained success across multiple funds.

Organization and Leadership

Executive Team

BC Partners' executive team comprises seasoned professionals who guide the firm's strategic direction across , , and strategies. With a global team of over 250 professionals, the leadership emphasizes collaborative decision-making through the , which oversees processes and portfolio management. Raymond Svider serves as Chairman of BC Partners and Chairman of the Management Committee, a role he has held since joining the firm in 1992. He plays a pivotal role in shaping the overall strategy, including oversight of the Investment Committee, and focuses on sectors such as North American business services, technology, media, and telecom (TMT), consumer, and healthcare. Under his leadership, BC Partners has expanded its to over $40 billion, driving key fund raises and exits that have generated significant returns for investors. Nikos Stathopoulos is Chairman, , and a member of the Management Committee, with a focus on continental investments, particularly in telecom and media sectors. He leads the firm's European operations and contributes to the Executive Committee, influencing deal sourcing and portfolio value creation in the region. Stathopoulos has been instrumental in high-profile transactions, such as the firm's involvement in , and advocates for longer holding periods to maximize asset performance. Michael Chang is a Partner in the team and Co-head of Healthcare for , based in New York. He leads investments in the North American healthcare sector, having spearheaded deals like CeramTec, Zest Dental, and Women's Care Enterprises, which underscore the firm's emphasis on specialized sector expertise. Chang's contributions extend to integrating ESG factors into healthcare portfolio companies, aligning with the firm's sustainability goals. Fahim Ahmed serves as and a Partner in Private Equity, while also being a permanent member of the Management Committee. Based in New York, he chairs the Portfolio Review Committee and covers North American consumer, TMT, and retail sectors, ensuring operational efficiency and across investments. Ahmed has driven enhancements in fund performance through rigorous portfolio oversight, contributing to BC Partners' reported 16% net IRR for Fund XI. Marco Castelli is a Partner in the team based in , serving as a rotating member of the Investment Committee. Joining in 2006, he focuses on European private equity deals and has advanced from associate to partner, contributing to the firm's deal execution and value creation strategies. His work supports the integration of ESG considerations in investment processes, as formalized by the firm since 2010. In 2025, BC Partners bolstered its leadership with key hires, including Daniel Wolfe as Managing Director in the Credit team in New York, bringing expertise in financial planning and reporting to enhance credit strategy execution. Similarly, Sandra Mallozzi joined as for the Real Estate team in , overseeing financial operations and supporting the firm's investment growth. The executive team collectively drives ESG integration across strategies, as evidenced by annual reports detailing climate diligence in investments and portfolio-level initiatives.

Global Offices

BC Partners maintains its global headquarters in , , at 40 , W1H 6DA, where core investment activities, administrative functions, and strategic oversight are primarily managed. This office serves as the central hub for the firm's operations, coordinating across its international network. The London team plays a pivotal role in pan-European deal sourcing and portfolio management, leveraging the firm's historical roots in the region. In , , located at 38 Avenue Hoche, 4th floor, 75008, the office focuses on the , handling local investment opportunities, regulatory compliance, and relationships with French stakeholders. This location enables targeted execution of private equity, credit, and real estate strategies within France, supported by specialized local expertise. Complementing this, the , , office at Neuer Wall 55, 20354, acts as a hub for German and Nordic markets, facilitating cross-border transactions and regional portfolio oversight in these key European economies. These European offices collectively drive the firm's pan-continental sourcing efforts, ensuring deep localized relationships while maintaining a unified global perspective. The New York, , office, situated at 650 Madison Avenue, 3rd Floor, NY 10022, leads North American operations, with a strong emphasis on expanding and investments since the firm's entry into the region in the late 2000s. Established to capitalize on U.S. market opportunities, it supports deal execution, fund management, and collaboration with North American partners, marking a significant evolution from BC Partners' initial European focus. Across these locations, BC Partners employs over 250 professionals, distributed to provide specialized expertise in deal origination, execution, and ongoing portfolio . This team structure enhances the firm's ability to navigate regional nuances while pursuing international strategies, including recent fund launches in 2025 that underscore the offices' integrated roles.

Sustainability and ESG

Commitments and Policies

BC Partners has been a signatory to the (PRI) since 2009, making it one of the first firms to commit to this framework, which emphasizes incorporating environmental, social, and governance (ESG) factors into investment decision-making. This commitment underscores the firm's dedication to responsible investment practices across its operations. The firm's ESG policy establishes a comprehensive responsible framework that addresses environmental factors, such as climate risks and ; social factors, including and workforce diversity; and governance factors, like and measures. Updated in 2021 and tailored to , credit, and strategies, this policy applies uniformly to all activities, ensuring ESG considerations are embedded in the firm's culture and processes. ESG integration is mandatory throughout the investment lifecycle, with conducted by deal teams—supported by the Head of Sustainability and external experts—requiring assessment of material ESG issues presented to the Investment Committee for approval. Board-level oversight is provided through the ESG Committee, comprising members of the Management Committee and department heads, which coordinates strategy and ensures ongoing monitoring via annual ESG indicators. Senior executives lead this coordination to align ESG efforts with business objectives. In terms of diversity, equity, and inclusion (DEI), BC Partners reports relevant data through the ESG Data Convergence Initiative to promote transparency and accountability in workforce composition. The policy also includes provisions for ethical sourcing by evaluating risks in supply chains and robust measures to prevent and , aligning with international best practices.

Key Initiatives and Reports

BC Partners has implemented several key ESG initiatives across its portfolio companies to drive environmental improvements. For example, portfolio company launched its Environmental Innovation Program, which includes transitioning its fleet from diesel to (CNG) to reduce emissions. The firm also conducts climate assessments aligned with the Task Force on Climate-related Financial Disclosures (TCFD), having signed onto the framework in 2020; these assessments evaluate physical and transition risks across approximately 500 sites in its portfolio, with less than 10% identified as materially at risk. In its portfolio actions, BC Partners emphasizes diversity, equity, and inclusion (DEI) through annual data collection from investee companies, facilitated by participation in the ILPA Diversity in Action Initiative and the ESG Data Convergence Initiative; this has enabled reporting on metrics such as 39% female representation in the overall workforce and 13% in senior roles across the firm and select portfolio entities. Sustainability-linked financing is integrated into its private credit deals, with examples including investments in RCOI for green and sustainability-linked loans targeting energy transitions, and broader ESG key performance indicators in private equity processes. The 2024 Sustainability Report highlights future-proofing efforts through net-zero goals, with alignment tracked via the Private Markets Decarbonisation Roadmap. The firm's annual ESG reports from 2021 to 2024 demonstrate progressive integration of sustainability practices. The 2021 report introduced standardized ESG surveys for all portfolio companies, covering factors like emissions and DEI. Building on this, the 2022 report expanded greenhouse gas footprint calculations to 100% of private equity assets under management. The 2023 report focused on granular integration, including DEI reporting convergence and PCAF-aligned financed emissions disclosures for 32 portfolio companies. The 2024 report emphasized internal colleague support programs, such as an employee matching donation initiative up to €22,950, alongside community partnerships like Spread a Smile. These initiatives have yielded measurable outcomes, including reduced emissions in holdings; for example, invested in LED retrofits to reduce emissions, while the portfolio's overall GHG intensity declined in 2024. As of June 2025, per the TCFD Entity Report, efforts were advanced in the real estate strategy as one of five environmental pillars, with nine of 22 companies holding long-term net-zero targets; community investments continued in 2024.

References

  1. https://www.bcpartners.com/about/
  2. https://pitchbook.com/profiles/investor/11137-96
  3. https://www.bloomberg.com/news/articles/2025-02-10/bc-partners-said-to-seek-up-to-6-billion-for-new-flagship-fund
  4. https://www.privateequityinternational.com/institution-profiles/bc-partners.html
  5. https://www.bcpartners.com/strategies/private-equity/
  6. https://www.bcpartners.com/strategies/private-credit/
  7. https://www.bcpartners.com/strategies/real-estate/
  8. https://www.bloomberg.com/news/articles/2025-10-23/bc-partners-new-fund-raises-1-8-billion-as-first-close-nears
  9. https://www.bcpartners.com/wp-content/uploads/2025/05/BCP-Responsible-Investment-Policy-PE.pdf
  10. https://www.bloomberg.com/news/articles/2019-05-01/-amazing-svider-man-fights-to-prove-bc-partners-revamp-pays-off
  11. https://serbia.mom-gmr.org/en/owners/individual-owners/detail/owner/owner/show/bc-partners-3/
  12. https://www.fnlondon.com/articles/partners-share-bc-success-1-19981109
  13. https://www.canvasbusinessmodel.com/blogs/brief-history/bc-partners-brief-history
  14. https://www.bcpartners.com/contact/
  15. https://www.bcpartners.com/legal/
  16. https://www.bcpartners.com/news/bc-partners-agrees-to-sell-majority-stake-in-navex-to-a-consortium-led-by-goldman-sachs-alternatives-including-blackstone/
  17. https://www.wikicorporates.org/wiki/BC_Partners_LLP
  18. https://www.buyoutsinsider.com/deploying-europes-biggest-buyout-fund-2/
  19. https://growthequityinterviewguide.com/firms/bc-partners
  20. https://canvasbusinessmodel.com/blogs/brief-history/bc-partners-brief-history
  21. https://www.wsj.com/articles/SB959628479551924769
  22. https://www.bcpartners.com/news/bc-partners-fundraising-hits-e6-5bn-cap/
  23. https://www.bcpartners.com/news/bc-partners-closes-tenth-flagship-private-equity-fund-at-e7bn/
  24. https://www.bcpartners.com/news/bc-partners-launches-new-credit-platform/
  25. https://www.bcpartners.com/news/bc-partners-real-estate-announces-first-deal/
  26. https://www.bcpartners.com/news/bc-partners-credit-announces-launch-of-great-lakes-iii-2/
  27. https://www.bloomberg.com/news/articles/2025-08-19/bc-partners-launches-new-fund-to-lure-middle-market-deals
  28. https://www.reuters.com/markets/europe/bc-partners-invests-bain-owned-fedrigoni-3-bln-deal-2022-07-26/
  29. https://www.reuters.com/business/finance/british-lender-shawbrook-set-258-billion-valuation-london-ipo-2025-10-30/
  30. https://www.bcpartners.com/news/bc-partners-inks-scm-insurance-deal-to-form-3-25-billion-group/
  31. https://www.bcpartners.com/about/value-creation/
  32. https://www.bcpartners.com/strategies/
  33. https://www.bcpartners.com/news/bc-partners-announces-final-close-of-flagship-fund-xi/
  34. https://www.privateequityinternational.com/bc-partners-moves-into-private-credit/
  35. https://news.bloomberglaw.com/private-equity/bc-partners-to-lure-individual-investors-with-new-credit-fund
  36. https://alternativecreditinvestor.com/2025/08/19/bc-partners-launches-new-private-credit-fund/
  37. https://www.stblaw.com/about-us/news/view/2021/12/17/bc-partners-announces-%241.2-billion-final-close-of-second-special-opportunities-credit-fund
  38. https://www.bcpartners.com/news/bc-partners-raises-over-1-4-billion-for-special-opportunities-fund-iii-surpassing-target/
  39. https://www.bcpartners.com/news/bc-partners-launches-new-fund-to-lure-middle-market-deals/
  40. https://www.bcpartners.com/news/kingsrock-advisors-and-bc-partners-credit-announce-500-million-co-investment-strategic-alliance/
  41. https://www.globenewswire.com/news-release/2025/03/06/3038550/0/en/KingsRock-Advisors-and-BC-Partners-Credit-Announce-500-million-Co-Investment-Strategic-Alliance.html
  42. https://www.bcpartners.com/strategies/real-estate/focus-areas/
  43. https://www.privateequityinternational.com/bc-partners-the-11th-hour-real-estate-competitor/
  44. https://www.bcpartners.com/news/bc-partners-real-estate-closes-oversubscribed-debut-fund-at-e900-million-in-total-commitments/
  45. https://www.bcpartners.com/news/renta-corporacion-brings-bc-partners-real-estate-on-board-as-a-strategic-shareholder-in-cabe/
  46. https://www.bcpartners.com/news/contextlogic-announces-up-to-150-million-strategic-investment-by-bc-partners/
  47. https://wish.gcs-web.com/news-releases/news-release-details/contextlogic-announces-150-million-strategic-investment-bc
  48. https://centreforaviation.com/news/imm-and-eastmerchant-to-sell-crianza-aviation-to-bc-partners-and-fpg-amentum-1335973
  49. https://www.bcpartners.com/news/bc-partners-and-united-group-agree-to-sell-sbb-serbia-to-e-ppf-telecom-as-well-as-net-tv-plus-business-and-its-sports-broadcasting-rights-for-western-balkans-to-telekom-srbija/
  50. https://www.prnewswire.com/news-releases/united-group-announces-leadership-changes-following-strategic-re-focus-302482727.html
  51. https://www.fnlondon.com/articles/bc-partners-faces-corporate-governance-crisis-at-united-group-rebelling-executives-warn-42ce3b2e
  52. https://www.occrp.org/en/news/dutch-court-halts-united-group-founders-board-challenge-raising-press-freedom-concerns-in-serbia
  53. https://www.broadbandtvnews.com/2025/10/16/united-groups-belgrade-hq-searched-as-prosecutors-seek-records/
  54. https://www.bcpartners.com/news/servier-and-bc-partners-enter-exclusive-negotiations-for-the-sale-of-biogaran/
  55. https://servier.com/wp-content/uploads/2025/07/press-release_30072025.pdf
  56. https://ieu-monitoring.com/editorial/eu-commission-clears-acquisition-of-biogaran-by-bc-partners/857968
  57. https://www.baincapital.com/news/bain-capital-private-equity-and-bc-partners-enter-joint-ownership-agreement-fedrigoni
  58. https://www.bcpartners.com/news/advanced-attracts-investment-from-bc-partners/
  59. https://www.reuters.com/article/PrivateEquityandHedgeFunds09/idUSTRE52N4HJ20090324
  60. https://www.perenews.com/bc-loses-control-of-foxtons/
  61. https://www.wsj.com/articles/bc-partners-completes-purchase-of-acadia-healthcare-facilities-1480549776
  62. https://www.bcpartners.com/news/bc-partners-to-acquire-portfolio-of-mental-health-hospitals-from-acadia/
  63. https://www.wsj.com/articles/SB108576185389124063
  64. https://www.buyoutsinsider.com/bc-partners-suffer-mark-iv-loss/
  65. https://www.privateequityinternational.com/bc-completes-second-us-investment-agrees-foxtons-recap/
  66. https://www.bcpartners.com/people/
  67. https://investor.chewy.com/governance/board-of-directors/person-details/default.aspx?ItemId=22e9ef28-c7a3-4d15-9e39-d16e0e00910c
  68. https://pe-insights.com/bc-partners-eyes-up-to-e6bn-for-new-flagship-fund-leveraging-strong-exit-activity/
  69. https://www.bcpartners.com/portfolio/united-group/
  70. https://www.pehubeurope.com/bc-partners-nikos-stathopoulos-managers-will-need-to-hold-assets-for-longer/
  71. https://www.bcpartners.com/people/michael-chang/
  72. https://www.bcpartners.com/portfolio/womens-care-enterprises/
  73. https://www.bcpartners.com/news/bc-partners-insights-sector-series-healthcare/
  74. https://www.bcpartners.com/people/fahim-ahmed/
  75. https://investor.chewy.com/governance/board-of-directors/person-details/default.aspx?ItemId=59e3bada-d249-4f20-b567-42506c3cf471
  76. https://www.bcpartners.com/people/marco-castelli/
  77. https://www.bcpartners.com/news/from-associate-to-partner-interview-with-marco-castelli-partner-bc-partners/
  78. https://www.bcpartners.com/wp-content/uploads/2025/04/BC_Partners_ESG_Report_2023.pdf
  79. https://www.bcpartners.com/people/daniel-wolfe/
  80. https://www.bcpartners.com/people/sandra-mallozzi/
  81. https://www.weforum.org/organizations/bc-partners-limited/
  82. https://www.bcpartners.com/wp-content/uploads/2025/04/BC_Partners_2021_ESG_Report.pdf
  83. https://www.bcpartners.com/wp-content/uploads/2025/06/BCPL-Entity-Report-2025.pdf
  84. http://carbonaccountingfinancials.com/files/institutions_downloads/BC-Partners-Sustainability-report-2024.pdf
  85. https://www.bcpartners.com/wp-content/uploads/2025/04/BC_Partners_-_ESG_Report_2022.pdf
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