Bridgepoint maintains guidance as assets under management rise further

The FTSE 250 company said capital deployment was in line with expectations in the three months ended 30 September, with €1.1bn invested, including into five companies based in Denmark, the Netherlands, Sweden and the UK.

It said its fund portfolios continued to perform well, benefitting from a continued improvement in economies across Europe and underpinned by strong realisations.

A total of €2.1bn of gross exits were completed in the quarter.

Fundraising was now underway for Bridgepoint Europe VII, and was still progressing “well” for Bridgepoint Credit Direct Lending III and Bridgepoint Credit Opportunities IV.

“Alongside Bridgepoint's organic strategy of deepening its key middle market positions in private equity and private credit, the business also continues to make progress in its medium term strategic objectives of broadening its investment platform,” the board said in its statement.

The company’s guidance remained unchanged from that it gave at its half-year update on 15 September.

“Bridgepoint remains confident in the long-term prospects for the business, despite continued volatility of economic conditions, as well as in its ability to source attractive opportunities for its funds and continue to grow its business.”

The company said it would publish its results for the year ending 31 December on 24 March.

At 0847 GMT, shares in Bridgepoint Group were down 0.36% at 548p.