Partners Group has purchased a stake in BC Partners European Capital IX, according to UK regulatory notices.
BC European Capital IX is a 2010-vintage fund that surpassed its €6.5 billion target and closed on €6.68 billion.
Known LPs in the fund include the California State Teachers’ Retirement System, Canada Pension Plan Investment Board and Metropolitan Life Insurance Company, according to PEI’s Research and Analytics division.
Fund IX had invested in eight companies as of 31 March, according to documents from SL Capital, another LP in the fund. Targeted companies typically have enterprise values of between €300 million and €2 billion and focus on the business services, consumer, healthcare, industrial and media/telecom sectors.
Portfolio companies include Scandinavian cable company Com Hem, which BC reportedly purchased from The Carlyle Group and Providence Equity Partners in 2012.
BC Partners declined to comment.
Partners purchased the fund stake from Jungfrau Sicav Sif, which is managed by Swiss private bank The Pictet Group, according to data from investment research firm TrustNet.
Jungfrau Sicav Sif is a mixed asset fund that launched in 2011. It raised £810 million ($1.3 billion, €1 billion) and has a 5.3 percent allocation to alternatives.
Fund IX isn’t the first BC fund stake Partners Group has acquired. In June it purchased a stake in BC’s €5.88 billion European Capital VIII from MLC, the wealth management division of the National Australia Bank.
Partners Group is currently in market with its Partners Group Secondary 2015, which launched earlier this year, according to PEI data. Its prior private equity secondaries fund is a 2011-vintage and closed on its €2 billion hard-cap.
The firm declined to comment.