Bridgepoint closes fourth megafund

As 2008 draws to a close so do a number of large funds. Bridgepoint recorded the largest close with its fourth fund Bridgepoint Europe IV hitting EUR4.8bn, well ahead of its EUR4bn target.

The new fund will follow Bridgepoint's investment strategy from previous funds by targeting companies which have enterprise values situated between EUR200m-1bn. The vehicle will continue to invest in buyouts, buy-ins and take-privates, with equity investments of up to EUR350m on a single transaction. The fund expects to make between 20-25 buyouts during its lifetime.

Also closing a billion Euro fund was Nordic Capital, which closed its seventh fund on EUR4.3bn. Not to be outdone, US-based investors TowerBrook Capital Partners closed TowerBrook Investors LP III on its hard-cap of $2.8bn while their fellow US investor, Oaktree Capital Management LP, closed its second European private equity fund, OCM European Principal Opportunities Fund II LP, on EUR1.8bn.

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• Buyout
• France