- BDL III and associated Separately Managed Accounts (SMAs) held a final close with investable capital of over €3.4 billion
- This is materially larger than the predecessor vintage, underlining strong investor appetite for Bridgepoint’s Direct Lending product in the current market
- BDL III, which is already two-thirds invested, provides financing solutions to high-quality, mid-market European companies
- BDL III seeks to deliver an attractive cash yield to investors with regular income distributions
Bridgepoint, one of the world’s leading quoted private asset growth investors, specialising in private equity and private debt, today announced the successful completion of fundraising for its third direct lending fund, Bridgepoint Direct Lending III (BDL III).
Including associated SMAs, BDL III held a final close in the first half of 2023 with investable capital of over €3.4 billion.
The strength of the latest fundraise illustrates the wider growth and development of Bridgepoint Credit, which has grown assets under management by 76% to €12.0 billion since the acquisition of EQT Credit in October 2020. With a dedicated team of 65 professionals in eight offices, Bridgepoint is well positioned to meet the continued increasing demand for private credit solutions.
To date, BDL III has provided acquisition and growth capital to 28 leading mid-market companies in Europe.
Andrew Konopelski, Partner and Head of Credit at Bridgepoint, said:
“The success of our third Direct Lending fund further solidifies Bridgepoint Credit as one of Europe’s premier credit managers. We extend our thanks to all our investors, new and existing, for their support and trust in us. Our well-established track record spanning 15 years and multiple cycles, coupled with the power of being part of one of the longest established private equity houses in Europe enables us to provide a highly differentiated approach to Direct Lending.”