BC Partners Launches New Fund to Lure Middle-Market Deals

The private credit arm of BC Partners Holdings Ltd has launched a new fund to succeed its $1.6 billion predecessor created through its partnership with Great Lakesto invest in middle-market deals, the firm said Tuesday.

The new fund, Great Lakes III, is expected to attract about $2 billion in assets, a person familiar with the matter said. It will have a three-year investment horizon over which current investors can redeem or roll their investments into the fund. More than 75% of investors in Great Lakes II have decided to commit to the new fund, BC Partners Credit said in ...