Bridgepoint Europe VII in final stretch of EUR 7bn fundraise

Bridgepoint Europe VII was registered with the UK Companies House in May 2021, according to Unquote Data. It held a EUR 4bn first close against a EUR 7bn target in mid-May 2022, the GP said in its latest half-year results.

After its launch and first close, the fund, which has held further closings since, is set to follow its predecessor fund's strategy, investing in mid-market European companies in the consumer, business services, manufacturing industries, healthcare, financial services, media and technology sectors.

Its predecessor vehicle, Bridgepoint Europe VI, held a final close in December 2017. The fund was oversubscribed and reached its EUR 5.7bn hard-cap, surpassing its EUR 5bn target. It is now fully deployed, according to the statement from Bridgepoint.

In its second half-year results since listing in July 2021, the GP also noted that fundraising has continued for Bridgepoint Direct Lending III, which is also set to complete fundraising in H1 2023. Bridgepoint Credit Opportunities IV and Direct Lending III held second closings in April.

Total investments by Bridgepoint funds during H1 2022 amounted to EUR 1.5bn, according to the statement. The funds completed six add-on acquisitions and returned EUR 1.4bn to LPs.

Assets under management (AUM) increased by 13% compared with H2 2021 and by 30% compared with H1 2021, reaching EUR 37.1bn at the end of H1 2022. Across the GP’s equity and credit funds, EUR 3.1bn was deployed in new and follow-on investments and EUR 3bn of capital was realised during the period.

Specifically, private equity AUM amounted to EUR 26.7bn and credit AUM to EUR 10.4bn as of 30 June 2022.

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