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Bridge to acquire PE secondaries specialist

Bridge Investment Group Holdings is to acquire Newbury Partners, an investment manager that specialises in acquiring limited partnership interests in private equity funds through secondary transactions, in an all-cash transaction valued at $320.1 million.

Bridge Investment Group Holdings (Bridge) is to acquire Newbury Partners (Newbury), an investment manager that specialises in acquiring limited partnership interests in private equity funds through secondary transactions, in an all-cash transaction valued at $320.1 million.

Newbury, which has $4.3 billion in fee-earning assets under management, focusses on acquiring limited partnership interests in established buyout, growth equity and venture capital funds. Founded in 2006, the firm has raised over $6.2 billion of committed investor capital across five dedicated funds and has invested in over 500 underlying interests on behalf of more than 250 limited partners worldwide. 

The transaction will add significant assets to the Bridge platform, while enabling the firm to expand into the rapidly growing private equity secondaries market. 
 

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