Even before BC Partners lost control of estate agent chain Foxtons in 2010, in one of the highest-profile restructurings of the crisis in the UK, the buyout firm admitted the deal was a “mistake”. Now, BC is taking back control of the business amid a “stabilising” housing market, growing revenues and hopes it will deliver a respectable return.

A person familiar with the situation said BC was expected to this week agree the purchase of 55% of Foxtons from lenders Bank of America Merrill Lynch and Mizuho, which seized control of the business in 2010.