Stellar fundraise sees Bridgepoint Development Capital soar to £1.5bn hard cap close – sources


Bridgepoint Development Capital has surged past its target for its fourth flagship fundraise to close on its £1.5bn hard cap, AltAssets understands.

The oversubscribed raise saw BDC close Fund IV 50% above its initial £1bn goal, making it one of the biggest PE funds in Europe focused on lower mid-market buyouts and growth capital deals.

BDC IV is more than twice the size of the firm’s £605m third fund, which it closed in 2016.

The firm is eyeing about 20 investments from Fund IV, according to AltAssets sources. BDC declined to comment on the information.

BDC is part of UK asset manager Bridgepoint, which invests across buyouts, growth and credit deals. Bridgepoint currently has about €19.3bn of assets under management.

Its lower mid-market arm looks to back businesses valued up to €200m, according to its website. It currently operates in the UK, France and the Nordic region.

Last month the firm sold its stake in workflow and productivity software developer BigHand to fellow US private equity firm Levine Leichtman Capital Partners.

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