<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0708</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001989804</cik>
        <entityName>BFG Co-Investment II, LLC</entityName>
        <issuerAddress>
            <street1>228 N. PARK AVENUE</street1>
            <street2>SUITE A</street2>
            <city>WINTER PARK</city>
            <stateOrCountry>FL</stateOrCountry>
            <stateOrCountryDescription>FLORIDA</stateOrCountryDescription>
            <zipCode>32789</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>407-644-6444</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <edgarPreviousNameList>
            <previousName>BFG Co-Investment Fund II</previousName>
        </edgarPreviousNameList>
        <entityType>Limited Liability Company</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2023</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Robert</firstName>
                <middleName>A</middleName>
                <lastName>Bourne</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>228 Park Avenue North, Suite A</street1>
                <city>Winter Park</city>
                <stateOrCountry>FL</stateOrCountry>
                <stateOrCountryDescription>FLORIDA</stateOrCountryDescription>
                <zipCode>32789</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>CEO and Member of the Board of Managers of Sole Member of Issuer's Manager.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>N/A</firstName>
                <lastName>Bourne Seniors Housing Manager VII, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>228 Park Avenue North, Suite A</street1>
                <city>Winter Park</city>
                <stateOrCountry>FL</stateOrCountry>
                <stateOrCountryDescription>FLORIDA</stateOrCountryDescription>
                <zipCode>32789</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Manager of the Issuer.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Stephen</firstName>
                <middleName>K</middleName>
                <lastName>Case</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>228 Park Avenue North, Suite A</street1>
                <city>Winter Park</city>
                <stateOrCountry>FL</stateOrCountry>
                <stateOrCountryDescription>FLORIDA</stateOrCountryDescription>
                <zipCode>32789</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Chief Investment Officer and Member of Board of Managers of Sole Member of Manager.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Samuel</firstName>
                <middleName>G</middleName>
                <lastName>Spears</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>228 Park Avenue North, Suite A</street1>
                <city>Winter Park</city>
                <stateOrCountry>FL</stateOrCountry>
                <stateOrCountryDescription>FLORIDA</stateOrCountryDescription>
                <zipCode>32789</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>CFO and Member of Board of Managers of Sole Member of Manager.</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Other Real Estate</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>Decline to Disclose</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06b</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <yetToOccur>true</yetToOccur>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>50000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>10000000</totalOfferingAmount>
            <totalAmountSold>0</totalAmountSold>
            <totalRemaining>10000000</totalRemaining>
            <clarificationOfResponse>The Manager, in its sole discretion, may elect to increase the total maximum offering amount to $15,000,000.</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>0</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>420000</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse>The Manager will receive an acquisition fee equal to 1.5% of the Company's share of Total Costs for the acquisition and capital improvement of senior housing communities. The total amount paid will depend on the actual amount of such costs.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>BFG Co-Investment II, LLC</issuerName>
                <signatureName>/s/ Robert A. Bourne</signatureName>
                <nameOfSigner>Robert A. Bourne</nameOfSigner>
                <signatureTitle>CEO of Sole Member of Issuer's Manager</signatureTitle>
                <signatureDate>2023-08-09</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
