Bridgepoint targeting EUR 7bn for seventh flagship fund

Bridgepoint Europe VII was registered with the UK Companies House in May 2021, according to Unquote Data. The fund is expected to follow its predecessor fund's strategy and invest in mid-market European companies in the sectors of consumer, business services, manufacturing industrials, healthcare, financial services, media and technology.

Simpson Thacher & Bartlett is Bridgepoint's legal adviser of the UK vehicles.

Its predecessor, Bridgepoint Europe VI, held a final close in December 2017. The fund was oversubscribed and reached the EUR 5.7bn hard-cap, surpassing the EUR 5bn target. It was 78% deployed as of June this year, according to the GP.

In its first H1 results since listing in July, Bridgepoint also noted that fundraising continued during the period for Bridgepoint Credit Opportunities IV and Bridgepoint Direct Lending III. Its CLO II vehicle was also launched in June, raising EUR 350m.

Total investments by Bridgepoint funds during H1 2021 amounted to EUR 2.7bn (against EUR 600m in H1 2020). Its Bridgepoint Development Capital IV fund is now 3% deployed, while  Bridgepoint Growth I is 75% deployed.

Bridgepoint's total gross exits completed in H1 2021 increased to EUR 2.1bn, when they amounted to just EUR 200m in the first half of 2020.

The group joined the main market of the London Stock Exchange on 26 July 2021, raising gross proceeds of GBP 300m.

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