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    BPT   GB00BND88V85

BRIDGEPOINT GROUP PLC

(BPT)
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Bridgepoint : Private equity firm Bridgepoint assets jump in first results since IPO

09/15/2021 | 04:01am EST

LONDON (Reuters) - Private equity company Bridgepoint Group said its total assets surged 54% year-on-year in the first half of 2021 as Europe's economies recovered from the pandemic to boost its first results since listing in July.

Shares in London-listed Bridgepoint are up more than a fifth since listing as demand for the 'alternative' asset class remains strong among investors.

Assets under management at the end of June were 28.5 billion euros ($33.64 billion), it said in statement on Wednesday, up from 18.5 billion euros a year earlier. Fee-paying assets were up 41% to 17.7 billion euros.

The strong growth, buoyed by an acquisition and fund launch, helped revenues jump 55% year-on-year to 122.2 million pounds, up from 78.7 million pounds in the prior period.

Bridgepoint said it had deployed 2.7 billion euros during the period, investing into six companies across the United Kingdom, United States, Ireland and Switzerland, compared with 600 million euros in the COVID-hit start to 2020.

The company added it had raised 2.1 billion euros during the period from selling various stakes.

Looking ahead, the company said it continued to see strong demand to invest in its funds, and was in the market looking to raise 7 billion euros for its Bridgepoint Europe VII fund.

"In line with expectations, we delivered strong growth in revenues and profits in the first half of the year," said William Jackson, Executive Chairman.

"Looking forward, whilst we continue to expect market volatility as economic conditions recover from the initial shocks of the pandemic, we are confident in the growth prospects for our business and our ability to continue to source attractive opportunities for our Funds."

($1 = 0.8472 euros)

($1 = 0.7239 pounds)

(Reporting by Simon Jessop; Editing by Rachel Armstrong and Christopher Cushing)

By Simon Jessop


ę Reuters 2021
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Financials
Sales 2021 251 M 334 M 334 M
Net income 2021 56,9 M 75,7 M 75,7 M
Net cash 2021 302 M 402 M 402 M
P/E ratio 2021 95,4x
Yield 2021 0,74%
Capitalization 4 116 M 5 482 M 5 471 M
EV / Sales 2021 15,2x
EV / Sales 2022 12,1x
Nbr of Employees 316
Free-Float 72,8%
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Mean consensus HOLD
Number of Analysts 6
Last Close Price 500,00 GBX
Average target price 544,67 GBX
Spread / Average Target 8,93%
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Managers and Directors
Adam Maxwell Jones COO, Group CFO & Executive Director
William Nicholas Jackson Executive Chairman
Archibald John Norman Senior Independent Non-Executive Director
Carolyn Julia McCall Independent Non-Executive Director
Angeles Garcia-Poveda Independent Non-Executive Director