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Opalesque Industry Update - BC Partners Credit, the $8.7 billion credit arm of global investment firm BC Partners, announced the launch of BCP Great Lakes II - Series B Holdings LP, following the successful conclusion of BCP Great Lakes II - Series A Holdings LP, which had $1.6 billion in assets as of the inception date of GL III in August 2025. Since inception, the Great Lakes platform has delivered an annualized current yield of 14% net, underscoring the firm's disciplined investment strategy and its strong track record of value creation.
The Great Lakes Unitranche JV was established in 2018 as a strategic partnership with a leading originator of middle-market sponsor finance, focused on providing flexible, scalable unitranche financing solutions tailored to middle-market companies. As a joint venture, BC Partners Credit has an exclusive first right of refusal on new unitranche lending opportunities, providing the firm with a steady pipeline of high-quality opportunities, enabling it to remain selective in aggressive markets. GL III commenced its investment period and began deploying capital on August 1, 2025, building on GL II's success. Notably, over 75% of unaffiliated GL II LPs, based on committed capital, chose to roll their commitments into and remain invested in GL III, reflecting continued confidence in the Great Lakes strategy. GL III, consistent with prior funds, is structured as a three-year investment vehicle, where new investors can join at any time during the period and gain immediate access to a ramped and diversified portfolio of investments at cost. Ted Goldthorpe, Head of Credit at BC Partners, said: "We are grateful for the continued partnership of our investors, as reflected in the overwhelming support for Great Lakes III. The performance of the overall program, and the seamless transition between funds, underscore our team's market expertise and disciplined investment approach." |
Industry Updates
BC Partners Credit launches Great Lakes III
Tuesday, August 19, 2025
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