P10’s Bonaccord Raises $1.6B for GP Stakes Fund

Bonaccord Capital Partners, an arm of alternative asset manager P10 Inc. that specializes in middle-market investments, held the final close of its second GP stakes fund at $1.6 billion.

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. With the latest close, the firm’s total assets have reached approximately $5 billion.

BCP II includes 66 investors from 14 countries and four continents. The fund saw a significant increase in investor engagement from the Middle East, Asia, and Latin America, while also growing its footprint in the wealth and insurance sectors.

“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,” said Bonaccord managing partner Ajay Chitkara. “We thank our investors for the confidence they have placed in us to execute our investment strategy.”

BCP II is already 60% invested across eight investments, including Park Square Capital, Trivest Partners, Shamrock Capital, VMG Partners, Synova Capital, Revelstoke Capital Partners, Kayne Anderson Private Credit, and Lead Edge Capital. Overall, Bonaccord has invested $2.6 billion across 15 investments, including $1 billion of co-investment.

Fried, Frank, Harris, Shriver & Jacobson served as fund counsel for the transaction.