‘Bridgepoint reports impressive performance for fiscal year’

Private investment firm Bridgepoint reported a strong full-year performance and expressed confidence in continued growth. The company stated that standalone organic assets under management increased by 7% to €41.0bn, with underlying pre-tax profits growing by 12% to £134.0m. Earnings per share reached 14.9p, and underlying earnings were 7% higher at £149.0m. Management fees rose by 10% to £265.0m, with underlying fee-related earnings increasing by 28% to £95.0m.

Bridgepoint announced that the acquisition of ECP was expected to close in the second quarter, with fundraising for ECP V set to close in April, targeting €4.0bn. Including the newly acquired business, assets under management rose by 62% year-on-year to €62.0bn.

CEO Raoul Hughes commented on the strong performance in 2023, noting a 12% year-on-year growth in underlying profits due to robust investment returns, progress in fundraising and fund deployment, and effective cost control. He also mentioned that fundraising for BE VII was on track to close shortly with commitments at €7.0bn.

By 1010 GMT, Bridgepoint shares were up by 0.23% at 262.0p. The company advised investors to understand the risks involved in investing and emphasized that the information provided is not personal advice tailored to individual circumstances. For more information on financial advice, investors were encouraged to contact the company directly.