Bonaccord Capital Partners has officially launched its third GP Stakes vehicle, Bonaccord Capital Partners III, which is dedicated to acquiring minority equity stakes in middle-market private markets sponsors across private equity, private credit, real estate, and real assets. The fund has a target size of $1.6 billion, according to SEC filings, up from Fund II’s original target of $1.25 billion, which ultimately closed at its revised hard cap of $1.6 billion.
To date, BCP Fund III has secured approximately $400 million from investors, which GPSN believes likely reflects CAZ Investments’ $400 million commitment announced three weeks ago. As of January, Bonaccord had invested $2.6 billion across 15 partner sponsors, including $1.0 billion of co-investment.
BCP’s Fund II, a 2022 vintage fund, shows a 27.0% net IRR and 1.3x net ROIC, while Fund I stands at 13.1% net IRR and 1.4x ROIC as of March of this year, underscoring the firm’s track record of delivering strong returns across its GP Stakes vehicles.
Since 2020, Bonaccord has raised more than $2.2 billion in aggregate capital commitments across commingled funds and co-investments. Its partner firms include, among others, VMG Partners, Revelstoke Capital Partners, and Lead Edge Capital.
