BC Partners raises €1bn-plus fund to take on 2013 investment Springer

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Private equity major BC Partners has launched a €1bn-plus single-asset fund backed by Neuberger Berman to take on its Fund IX investment in publisher Springer Nature.

BC invested in Springer way back in 2013 in a €3.3bn deal, before merging the business with Nature Publishing Group, Palgrave Macmillan and Macmillan Education two years later. It had made three attempts to list the business since 2018.

Its publications include Nature, Scientific American and BioMed Central.

The firm said the continuation fund was also capitalised by syndicate investors, reinvesting BCEC Fund IX investors and BC Partners most recent fund, Fund XI.

Attracting more than €1bn of investment makes the fund one of the largest of its type in Europe, it added.

BC raised €6.7bn for its 2011-vintage Fund IX. It reportedly hit the halfway point for the €8.5bn-targeting Fund XI raise last October following a record-breaking first close.

The firm had gathered over €4bn at that point according to Bloomberg, which cited unnamed people it said had knowledge of the matter.

Nikos Stathopoulos, partner and member of the executive committee at BC Partners, said, “We have pursued this creative solution to extend our investment in Springer Nature because we continue to see a compelling investment opportunity in this high-quality asset.

“We look forward to continuing to support management in positioning this highly defensive and market leading business globally to capitalise on the significant growth prospects stemming from the transition to open access and open science.”

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