Bridgepoint is set to distribute approximately €2bn to investors in its Europe VI buyout fund following two high-profile exits, as the firm positions itself for the upcoming launch of its next flagship vehicle.

The return follows the €4.2bn sale of MotoGP owner Dorna Sports to Liberty Media and the €2bn divestment of French insurance broker Kereis to Advent International. Together, these realisations represent nearly 30% of capital deployed by Bridgepoint Europe VI, which began investing in 2019.

With these distributions, the fund’s DPI (distributions to paid-in capital) is expected to approach 70%, a strong performance indicator that will be closely watched by LPs as Bridgepoint prepares to raise Europe VIII later this year.

The DPI metric has gained renewed prominence amid a tougher fundraising climate, with institutional investors prioritising realised returns over paper valuations. Bridgepoint Europe VI counts heavyweight LPs such as CalPERS, Washington State Investment Board, New York State Common Retirement Fund, and Minnesota SBI among its backers.

These exits also reaffirm Bridgepoint’s ability to deliver liquidity at scale, even in a more cautious M&A environment. The Dorna Sports transaction marked one of the largest European sports media exits in recent years, while the Kereis deal highlights continued investor interest in high-growth insurance distribution assets.

Source: Bloomberg

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