Bonaccord Capital Partners, a private equity business focused on providing growth capital and strategic support to middle-market private markets sponsors, and strategy of P10, a private markets solutions provider, closed on its second GP Stakes fund, Bonaccord Capital Partners II, with $1.6 billion in total commitments.
The fund closed at its revised hard cap and above its target of $1.25 billion, having grown by 117% compared to its predecessor fund Bonaccord Capital Partners I, a 2021 vintage that closed with $738.95 million.
“Bonaccord’s impressive fund close advances our strategic roadmap and highlights the strong demand for our attractive middle and lower middle market focus,” Luke Sarsfield, chairman and CEO of P10, said. “Looking ahead, Bonaccord will remain committed to delivering a differentiated approach to value creation for partner sponsors, while offering investors differentiated access to GP stake solutions.”
Bonaccord has invested $2.6 billion across 15 investments, including $1.0 billion of co-investment. BCP II is approximately 60% invested and has completed eight investments in Park Square Capital, Trivest Partners, Shamrock Capital, VMG Partners, Synova Capital, Revelstoke Capital Partners, Kayne Anderson Private Credit and Lead Edge Capital.
“The closing of Bonaccord Capital Partners II is a testament to the exceptional caliber of our partner sponsors, and we are grateful to share a vision of long-term growth and partnership with all of them,” Ajay Chitkara, managing partner at Bonaccord, said. “We thank our investors for the confidence they have placed in us to execute our investment strategy, and we will continually endeavor to achieve ongoing success for all Bonaccord stakeholders.”
Fried, Frank, Harris, Shriver & Jacobson served as fund counsel.
