Bridgepoint, the options supervisor that invests in personal fairness, credit score and infrastructure, has reported its personal credit score belongings beneath administration (AUM) elevated to €13.8bn (£11.5bn) final yr, as group AUM doubled since its IPO.
The personal credit score enterprise was up from €12.4bn in 2023, exhibiting progress of 11 per cent, in accordance with its newest annual report.
Total Bridgepoint’s AUM elevated to $75.6bn (£58.3bn), up from $44.7bn in 2023. It now stands at 2.3 occasions the extent on the time of the IPO, with the biggest contribution during the last 12 months coming from the acquisition of infrastructure investor ECP.
Learn extra: Bridgepoint lifts steering after bumper first half
Giving an replace on the credit score portfolio, BDL III, Bridgepoint’s third direct lending fund, which was closed in 2023 with investable capital of greater than €3.4bn, “is 88 per cent dedicated”, the asset supervisor stated.
The fund has a median loan-to-value of 35 per cent and a median EBITDA margin of roughly 30 per cent, it added.
In the meantime BCO IV, the Bridgepoint credit score alternatives fund, stays on monitor to fulfill its goal of 13-15 per cent returns, in accordance with the asset supervisor.
In a recap on fundraising, Bridgepoint’s credit score enterprise continued to make progress throughout its direct lending, syndicated debt and credit score alternatives methods in 2024 and into this yr.
Direct lending fund BDL IV held a primary shut in early January 2025 at €1.9bn. The enterprise additionally efficiently priced the upsizing and refinancing of collateralized mortgage obligation fund CLO 4, initially priced in December 2022, growing it by 40 per cent from €320m to €450m and decreasing the price of capital.
Learn extra: Bridgepoint costs its first new concern European CLO of 2025
Moreover, two new CLOs – CLO 6 and CLO 7 – have been priced in 2024 and exterior capital was additionally raised for the primary CLO originator partnership, enabling continued progress whereas decreasing reliance on the Bridgepoint’s stability sheet.
Fundraising for CLO 8 will start this yr, Bridgepoint stated, “reinforcing the crew’s potential to ship numerous alternatives for credit score buyers”.
“The credit score crew has continued to attain the efficiency, resilience and worth that our credit score methods are recognized for,” Raoul Hughes, Bridgepoint’s chief government, stated.
Learn extra: Direct lenders look to non-sponsored market