Bridgepoint explores viability of a private credit strategy

Private equity firm Bridgepoint is exploring the possibility of establishing a private credit investment strategy.

The firm has appointed David Walsh, former global head of acquisition finance at Bank of Ireland, to undertake a review.

“As an entrepreneurial organisation, we regularly review new ideas as a means of capturing further value for our investors from our current activities,” a spokesman for Bridgepoint told PDI.

“Walsh is joining us to help us evaluate the potential of a debt business as an adjacent activity to our current private equity business,” he added.

The spokesman said he was not able to disclose what the review will focus on specifically as it is still at an early stage of evaluation.

In December, Bridgepoint filed documents with Companies House registering Bridgepoint Credit Limited and Bridgepoint Credit Partners. The firm’s general counsel Charles Barter and chief financial officer Paul Gunner are listed on both sets of documents. However, the firm has listed many entities on the database that have largely remained dormant.

A number of firms have launched debut private credit investment strategies since the beginning of the year. Last month, PDI reported that private equity firm BC Partners was preparing a private credit fund targeting investments in both the US and Europe. The vehicle is looking to deploy $200 million. Finnish asset management firm eQ has taken its first steps into private debt this year.