Bridgepoint Raises $4.3 Billion for Fifth Europe Buyout FundKiel Porter
Bridgepoint, a U.K.-based private-equity firm, has raised 4 billion euros ($4.3 billion) for its fifth pool of capital, exceeding its original target.
The fund, Bridgepoint Europe V, will focus on buying European businesses valued at between 150 million euros and 600 million euros including their debt, the company said in an e-mailed statement Monday. The fund had sought to raise 3.5 billion euros.
“Investors have identified the European middle market as a place where there are excellent investment opportunities,” William Jackson, managing partner at Bridgepoint, said in the statement.
Bridgepoint is already spending the money. In its first deal, the firm bought Italian restaurant group Azzurri for 250 million pounds ($371 million), a transaction completed in February, according to the company’s website.
The new pool is smaller than a previous fund that also focuses on mid-sized European companies and drew 4.8 billion euros in 2008, according to the statement.