UK - Bridgepoint takes over £550m Hermes direct investment portfolio

The direct investment team of Hermes Private Equity, consisting of ten staff, will transfer to Bridgepoint and operate as a seperate division of the firm under the name Bridgepoint Development Capital (BDC). The unit will focus on buyout transcations valued below EUR 100m.

HPEP II is a £250m vehicle of which £200m has so far been invested, while HPEP III is a £300m fund.

Hermes plans to focus on its fund-of-funds business. BDC It will have £550m under management.

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