European buyout house Bridgepoint is back in the market with Bridgepoint Europe V LP according to SEC filings that didn’t reveal a target.
However, in a recent letter, Portfolio Advisors said the fund was targeting 3.5 billion euros ($4.8 billion) with a hard cap of 4 billion euros. The fund is expected to hold a first closing this month and a final close toward the end of the year, according to the letter.
Portfolio Advisors recommended that PSERS commit up to 150 million euros of limited partnership interests in Bridgepoint Europe V.
Fund V will continue the firm’s strategy of acquiring control positions in European middle market companies with enterprise values primarily between 150 million euros and 600 million euros.
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