Bridgepoint AUM surges 58% in third quarter

LONDON (Reuters) – Private equity firm Bridgepoint said on Tuesday that the overall value of its assets under management (AUM) jumped 58% in the third quarter.

The London-listed investment firm said assets under management have grown to an overall 29.2 billion euros ($33.21 billion) mainly due to the purchase of EQT’s credit business and the launch of Bridgepoint Development Capital IV focused on growth capital investments.

Bridgepoint said in a trading update that it was confident in its financial outlook for 2021 and 2022 having invested an overall 1.1 billion euros in the third quarter of the year backing companies based in Denmark, the Netherlands, Sweden and Britain among others.

The private equity firm said its current private equity flagship fund, known as Bridgepoint Europe VI, was 88% invested at the end of the third quarter.

(Reporting By Pamela Barbaglia; Editing by Rachel Armstrong)