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Investing.com -- Bridgepoint Group PLC (LON:BPTB) reported interim results for the first half of 2025, showing solid fund performance, successful exits, and continued progress in fundraising.
Reported profit before tax came in at £60.6 million, down from £99.9 million a year earlier.
Management fee income totaled £207.1 million, or £201.4 million excluding catch-up fees—an 11% increase on a like-for-like basis.
Fee-related earnings rose 22% to £70.3 million excluding catch-ups. Performance-related earnings were broadly stable at £57.6 million.
Underlying EBITDA reached £122.3 million, ahead of the prior year when excluding one-offs.
Assets under management (AUM) rose 20% year-on-year to €86.6 billion, while fee-paying AUM increased 2% to €37.5 billion.
The group returned €2.6 billion to fund investors in the first half, supported by successful exits, and said it has a strong pipeline of further divestments over the next 18 months. Carried interest from BE VI was also recognized earlier than expected.
Fundraising also remained strong, with ECP VI becoming fee-paying in May and BDL IV raising €2.2 billion by June-end.
Chief Executive Raoul Hughes said Bridgepoint is “making encouraging progress in fundraising” and remains on track to meet its €24 billion target by 2026.
“Our strong transaction origination capability and disciplined investment approach continues to deliver high quality returns," he added.
The group reaffirmed its full-year guidance and pointed to a solid exit pipeline and growing appetite from LPs for European mid-market and U.S. electricity infrastructure. Hughes said there are signs of “increasing transaction activity” and expressed confidence in the firm’s long-term strategic opportunity.