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Bridgepoint preps for first credit fund launch

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Bridgepoint is set to launch its т‚Ќ750m credit fund, according to a person close to the situation.

The firm's first debt vehicle will invest in Bridgepoint's own deals as well as third-party ones. The focus will be on mid-market companies across Europe, especially the underserved senior debt segment of the private debt market, the source added.

David Walsh, the former head of Bank of Ireland's acquisition finance team, was hired last year as Bridgepoint Credit's chief investment officer. He heads up a credit team of nine in London and Paris.

Although Bridgepoint has had a capital markets team for more than 10 years, responsible for all the debt related to the GP's deals, rumour began last year of Bridgepoint being on the cusp of setting up a dedicated debt arm, joining the ranks of fellow private equity houses Permira, Ardian, TPG Capital and CVC Capital Partners, according to Unquote sister publication Debtwire.

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