The Zug-based private markets investment firm is plotting a final closing around the end of the year, approximately the same time as its nearest rival.
The fund is targeting $400m to invest in less competitive areas of the market, such as secondaries funds and funds of funds.
The Connecticut-based firm is returning to the market with its second fund, targeting $300m.
At the same time the firm launched an offshore vehicle with a life of less than a year.
Twenty-two LPs sold stakes to the secondaries house, which has made a staple commitment to BC Partners’ latest fund worth around 30% of the total.
The former captive unit of Deutsche Bank is no longer the parent company’s ‘neglected child’.
The Israel-based VC secondaries specialist has held the final close on its fourth dedicated fund.
The 80% invested fund has closed 26 secondaries deals.
The asset manager has confirmed a $1.1bn haul for the vehicle, three months after Secondaries Investor reported it had held the final close.
The firm is targeting $1bn for its third secondaries fund, which has a target IRR of as much as 20%.