Bridgepoint, the European private equity group, has secured commitments of €4 billion for its latest European middle market buyout fund, Bridgepoint Europe V (‘BE V’). With commitments now ahead of the fund’s original target of €3.5 billion, BE V has reached its hard cap of €4 billion.

BE V will maintain Bridgepoint's strategy of capitalising on the opportunity to create and realise value from middle market acquisitions in Europe. The Fund will retain Bridgepoint's 'sweet spot' investment focus on businesses primarily in the €150m to €600m enterprise value range. It will concentrate on sectors and niches with strong structural growth drivers and companies benefitting from macro-economic recovery, especially European companies with superior products and services to global markets as well as those suited to acquisition-led market consolidation.

William Jackson, Bridgepoint's managing partner, said: 'Strong demand from investors has meant that we have exceeded our original target as investors have identified the European middle market as a place where there are excellent investment opportunities. BE V provides a well-defined route to access such a market with a team with a proven track record through different economic cycles.'

Fundraising for BE V began in May 2014 with the target being reached at the end of 2014. The fund has benefitted from significant re-commitment of existing investors with an average increase in commitment of more than 25 %. Limited partners (or investors) are drawn from a diversified range of international institutional investors in the US, Europe, Middle East, Asia and Australia.