UK-based alternative asset manager Bridgepoint has agreed to acquire EQT Credit in a deal that will resulting in a total AuM of close to EUR7 billion for the combined group.
According to Bridgepoint managing partner William Jackson, this transaction – which is scheduled to complete in the fourth quarter of 2020 – moves the firm’s credit strategy “significantly forward”. It also provides further diversification for the Bridgepoint Group.
“This is in line with our strategic objective of offering a broader range of compelling middle market focused alternative asset investment strategies,” said Jackson.
“It will also broaden Bridgepoint Credit’s geographic exposure with an enhanced presence in the Nordic region, Germany and the US, adding to our existing teams in London and Paris,” he added.
Advisers to Bridgepoint in this transaction included Rothschild & Co for M&A, PwC for financial & tax due diligence and structuring, Clifford Chance and Simpson Thacher for legal, and Lockton for insurance advice.
Founded in 2008, EQT Credit has a total AuM of EUR5.6 billion across its two core strategies of Direct Lending and Special Situations, and a team of 27 investment professionals based in London, New York, Munich and Stockholm. The business employs around 40 people in total.
