Bridgepoint has launched an evergreen direct lending vehicle in Luxembourg aimed at institutional investors, adding a perpetual structure to its European private credit platform, according to a report by Alternative Credit Investor.
The new Bridgepoint Direct Lending Evergreen vehicle has been established as an extension of the firm’s European direct lending strategy. Unlike many of the evergreen private credit products launched in recent years, however, it is not designed as a semi-liquid offering for individual investors.
The structure responds to growing institutional demand for longer-duration access to private credit, giving investors the ability to maintain exposure to the asset class without the traditional fixed lifespan of a closed-end fund.
Despite its perpetual structure, the vehicle will remain illiquid and will not provide investors with regular redemption opportunities. Its investment strategy will focus on senior secured lending to European mid-market companies, particularly businesses operating in sectors considered less exposed to economic and market volatility.
Bridgepoint typically provides financing to sponsor-backed companies, positioning the new vehicle as a longer-term extension of its established European direct lending capabilities.
The launch follows strong fundraising momentum for Bridgepoint’s core European direct lending strategy. The firm closed its fourth direct lending fund, BDL IV, at €5.1bn in August, comfortably above its €4bn target.
BDL IV was already more than 40% deployed at final close, with the fund having provided financing to more than 20 mid-market businesses across Europe.
Bridgepoint has approximately $97.3bn in assets under management across its platform, including around €20bn allocated to credit strategies spanning direct lending, credit opportunities and syndicated debt.