Business
Preliminary Results
Preliminary Results.
About this update from Bridgepoint Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8347F\n Bridgepoint Group plc\n 24 March 2022\n \n \n \n Bridgepoint Group plc\n \n \n Strong Performance in 2021 and Good Momentum Looking Ahead\n \n \n Bridgepoint Group plc (the \"Company\" and together with its subsidiaries the \"Group\") announces its preliminary results for the year ended 31 December 2021.\n \n 2021 full year highlights:\n \n \n \n \n •\n \n \n Strong trading performance in the year in which Bridgepoint listed on the London Stock Exchange: revenues increased by 41% and underlying EBITDA by 72% compared to the prior year period\n \n \n \n \n •\n \n \n Total Assets Under Management (AUM) of €32.9 billion, an increase of 23.7% year on year\n \n \n \n \n •\n \n \n Fee paying AUM of €18.3 billion, a 13.7% increase from December 2020\n \n \n \n \n •\n \n \n Capital deployment in line with expectations: €5.4 billion invested in 2021 compared to €1.8 billion for the prior year period (which included disruption from start of COVID pandemic)\n \n \n \n \n •\n \n \n Fund Portfolio performance exceeded expectations, benefitting from continued improvement in economies across Europe and delivered strong equity fund realisations with €4.7 billion of gross exits completed in the period\n \n \n \n \n •\n \n \n Good progress in fundraising: Bridgepoint Europe VII (BE VII) and Bridgepoint Credit Direct Lending III (BDL III) making progress towards their targets despite crowded fundraising markets\n \n \n \n \n •\n \n \n Fundraisings will continue during 2022 with Bridgepoint Credit already deploying capital from BDL III and BE VII expected to start deployment by end of H2 2022 in line with expectations\n \n \n \n \n Commenting on this performance, William Jackson, Executive Chairman, said:\n \n \"I am pleased to be sharing our results for 2021 which are ahead of the expectations we set at the time of our IPO. Bridgepoint delivered strong growth in revenues and profits in 2021 with these results illustrating the strength and potential of Bridgepoint's alternative asset investment platform with its particular focus on European growth companies.\n \n \"Following the disruption caused by the COVID pandemic in 2020, capital deployment returned to normal levels across all our asset classes in 2021 and we capitalised upon market conditions to deliv...