BPOC wraps up inaugural continuation fund at $425m

• The fund’s investors also include JP Morgan, Newbury Partners, Committed Advisors and Kline Hill Partners
• Asante Capital Group Advisors LLC acted as advisor to BPOC on the transaction
• Based in Chicago, BPOC invests in healthcare

BPOC has closed its debut continuation fund at $425 million. The fund is co-led by Apollo S3, Blackstone Strategic Partners and Five Arrows.

The fund will provide more time and, in certain cases, additional capital to assist each portfolio company in further accelerating its full growth potential.

As part of the transaction, existing investors in BPOC Fund IV were provided with the choice to receive full liquidity or to fully or partially re-invest into the new continuation fund.

The fund’s investors also include JP Morgan, Newbury Partners, Committed Advisors and Kline Hill Partners.

“We are grateful for the support of our new investors and believe this new vehicle will enable us to continue to create value at certain Fund IV companies, while providing liquidity options for our existing Fund IV investors,” said Gregory Moerschel, a managing partner of BPOC, in a statement

Asante Capital Group Advisors LLC acted as advisor to BPOC on the transaction. Kirkland & Ellis LLP and Paul Hastings LLP served as legal counsel to BPOC, while Proskauer Rose LLP represented Apollo S3, Blackstone Strategic Partners and Five Arrows.

Based in Chicago, BPOC invests in healthcare. Founded in 1996, BPOC has completed over 60 platform investments and has raised six funds with over $2.2 billion in total capital commitments.