Bridgepoint Group Plc, a UK-based private equity firm, is set to return €2 billion (USD 2.3 billion) to its investors in the coming weeks. The funds will be distributed from its Europe VI buyout vehicle following successful exits from MotoGP owner Dorna Sports S.L. and French insurance broker Kereis. This move comes amid growing scrutiny on private equity returns and is expected to raise the fund’s DPI to nearly 70%.
Bridgepoint Group Plc, a prominent UK-based private equity firm headquartered in London, is preparing to return approximately €2 billion (USD 2.3 billion) to its investors over the next few weeks. The firm is executing this capital distribution from its flagship Europe VI buyout fund, marking a significant development in an environment of growing pressure on private equity returns.
Founded in 1984, Bridgepoint Group focuses on investing in mid-market companies across Europe and has over €37 billion in assets under management.
The returns are largely attributed to two recent high-profile exits. First, Bridgepoint sold its stake in MotoGP rights holder Dorna Sports S.L., a Madrid-based motorsports company, to Liberty Media Corp. in a transaction valuing Dorna at €4.2 billion including debt. The deal was recently approved by the European Commission, which found no antitrust concerns.
Secondly, Bridgepoint exited Kereis, a leading French insurance broker, selling it to private equity firm Advent International at a €2 billion enterprise value.
According to sources familiar with the matter, the distributed funds represent nearly 30% of the Europe VI vehicle, which started investing in 2019. Key limited partners in the fund include the Washington State Retirement System, California Public Employees’ Retirement System (CalPERS), New York State Common Retirement Fund, and Minnesota State Board of Investment, as per Bloomberg data.
The move boosts the fund’s Distributions to Paid-In Capital (DPI) ratio to nearly 70%. DPI, which measures the amount of capital returned to investors relative to what they paid in, is increasingly becoming a key benchmark for evaluating private equity performance.
This strong return comes at a critical time for Bridgepoint as it prepares to launch its next flagship fund — Bridgepoint Europe VIII — later this year.
While a representative for Bridgepoint declined to comment, the successful asset sales and investor returns are likely to enhance the firm’s standing in the fundraising market, especially in a challenging dealmaking climate.
