BC Partners Is Said to Explore New Vehicle for Specialty Finance

The private credit arm of BC Partners is exploring raising a new fund targeting specialty finance deals, according to people familiar with the matter.

The firm could raise more than $500 million, the people said, asking not to be identified discussing confidential information. BC Partners is targeting an internal rate of return in the mid-teens for the new strategy, which will look for opportunities in areas such as asset-backed lending, the people said.

A first close may happen as early as this year, they said. Discussions are at an early stage, and details of the fund including its size and ...