Bridgepoint launches evergreen direct lending vehicle for institutional investors
Bridgepoint has launched an evergreen direct lending vehicle in Luxembourg aimed at institutional investors, adding a perpetual structure to its European private credit platform, according to a report by Alternative Credit Investor.
Bridgepoint has introduced an evergreen direct lending vehicle in Luxembourg for institutional investors, expanding its European private credit platform, according to a report by Alternative Credit Investor. Known as the Bridgepoint Direct Lending Evergreen vehicle, it is an extension of the firm’s European direct lending strategy.
Unlike many other evergreen private credit products launched recently, this structure caters to longer-duration access to private credit, intended exclusively for institutional investors, not individual traders. Despite its perpetual structure, the vehicle will remain illiquid, without regular redemption options for investors. Its investment strategy targets senior secured lending to European mid-market companies, focusing on sectors less vulnerable to market volatility.
Bridgepoint usually provides financing to sponsor-backed companies, making the new vehicle a longer-term addition to its existing European direct lending capabilities. The launch comes after a successful fundraising period for Bridgepoint’s core European direct lending strategy, with the firm closing its fourth direct lending fund, BDL IV, at €5.1bn in August, exceeding its €4bn target.
This fund has already deployed over €2bn, financing more than 20 mid-market businesses across Europe. Bridgepoint's total assets under management amount to approximately $97.3bn, including €20bn allocated to various credit strategies, including direct lending, credit opportunities, and syndicated debt.
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