13.11.2020 – 17:34
Bridgepoint Credit announces pricing of debut CLO
Bridgepoint Credit today (14 November 2020) announced the pricing of its debut European collateralised loan obligation ("CLO"), the EUR302 million Bridgepoint CLO 1 DAC ("Bridgepoint CLO 1"). In line with Bridgepoint's responsible investing principles, Bridgepoint 1 contains specific ESG eligibility criteria which detail restrictions on the industries in which the CLO will invest.
Arranged by Barclays, Bridgepoint CLO 1 is expected to close on 18 December 2020.
William Jackson, managing partner of Bridgepoint said: "This is a milestone transaction for our credit platform which comes just three weeks after the completion of the merger of Bridgepoint Credit and EQT Credit. Credit is a key strategy for Bridgepoint which, thanks to our team's market position, allows us to continue to offer a diversified range of alternative investment products to our investors."
Andrew Konopelski, Bridgepoint Credit managing partner, added: "I would like to congratulate John Murphy and this team on the successful pricing today of Bridgepoint Credit's maiden CLO. The strong investor demand reflects the depth of expertise across the platform and our complementary suite of credit products for the market. The enlarged Bridgepoint Credit team is open for business. This was a great team effort."
The collateral manager of Bridgepoint CLO 1 is Bridgepoint Credit Management Limited.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. The securities to be offered have not been registered under the Securities Act of 1933, as amended (the "Securities Act") or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements of the Securities Act and applicable state securities laws.The securities will be offered inside the United States only to qualified institutional buyers in reliance on Rule 144A under the Securities Act and qualified purchasers for the purposes of Section 3(c)(7) of the United States Investment Company Act of 1940 as amended and to persons outside the United States in reliance on Regulation S under the Securities Act.
Bridgepoint is an international alternative asset management firm. With over EUR26 billion of assets under management, it currently focuses on private equity and credit investing:
1) its private equity funds typically focus on acquiring well managed companies in attractive sectors helping companies and management teams by investing in expansion, operational transformation or via consolidating acquisitions.
2) its credit activities are implemented by Bridgepoint Credit which invests across the capital structure through three complementary strategies - direct lending, credit opportunities and senior debt.
Bridgepoint has offices in Amsterdam, Frankfurt, Istanbul, London, Luxemburg, Madrid, New York, Paris, San Francisco, Shanghai and Stockholm.
About Bridgepoint Credit
Bridgepoint Credit has invested approximately EUR 10 billion of capital since inception. Bridgepoint Credit invests across the capital structure and risk-reward spectrum through its three complementary strategies of Senior Debt, Direct Lending and Credit Opportunities.
It has a dedicated team of approximately 50 professionals, located in London, Frankfurt, Luxemburg, Madrid, New York, Paris and Stockholm.
Bridgepoint Credit's Senior Debt strategy invests in diversified portfolios of primarily senior secured floating-rate loans and notes of strongly performing European companies through both open-ended funds, SMAs and CLOs. These investment opportunities provide a regular interest income stream and high capital preservation through the active selection and monitoring of companies.
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