Investment company Bridgepoint posted a jump in full-year profits and revenue on Thursday as management fees across its private equity and credit strategies rose.
In the year to the end of December 2022, underlying earnings before interest, tax, depreciation and amortisation rose 23.2% to £140.3m, on revenue of £307.4m, up 13.6% on the previous year. Management and other fees were 22.2% higher at £241.5m.
Bridgepoint said key equity funds BE VI and BDC III both performed at or ahead of plan in 2022.
“The group’s strong financial performance in 2022 can be attributed to increased management fees across its private equity and credit strategies, in addition to resilient investment returns,” it said.
“The group has consolidated its financial position over its first full financial year since IPO and is well-capitalised at the beginning of 2023, with investments providing opportunity for future uplifts in profitability.”
