bd-capital, a pan-European and operator-led investment firm, announced the final closing of its second fund, bd-capital Fund 2, at €430 million. After less than a year in the market, this fund closed more than 20% over its target of €350 million. With the closing of Fund 2, bd-capital’s assets under management have increased to over €800 million.
The commitments to Fund 2 were secured from a diverse cohort of institutional investors, such as insurance companies, pension funds, sovereign wealth funds, and family offices. Along with Europe and the Middle East, a lot of the capital came from North American investors.
bd-capital features a highly differentiated investment approach to the European mid-market. It utilizes an operator-led strategy, where its team of private equity investors and experienced business leaders work together in full partnership across all aspects of sourcing, diligence, execution, and value creation.
bd-capital was also supported by its partners at Houlihan Lokey (exclusive global placement agent), Weil, Gotshal & Manges (legal counsel), and Langham Hall (fund administration).
Launched in 2019 by Andy Dawson (former Partner at Advent International), and Richard Baker (former FTSE 100 CEO and Chairman, and Advent Operating Partner), bd-capital employs an operator led investment strategy, making control investments in mid-market businesses based in the UK, BeNeLux and Iberian markets which operate in subsectors that are experiencing enduring structural growth across Healthcare, Services and Consumer. bd-capital has offices in London, Amsterdam and Madrid.
KEY QUOTES:
“We are incredibly grateful for the continued support we have received from our existing limited partners and are delighted to have welcomed such a fantastic group of new investors into Fund 2. To have exceeded our fundraising target in a relatively short timeframe is a validation of our distinctive, operator-led, pan-European multi-sector specialist strategy. The firm continues to expand and with this new fund, we are well positioned to capitalise on the exciting opportunities in our target sub-sectors as we move onwards.”
- bd-capital’s Managing Partners, Andy Dawson and Richard Baker
