This report is the updated version of the report published on December 16, 2025, 09:36 AM GMT.

Bridgepoint Group PLC (LSE: BPT)

Bridgepoint Group PLC (LSE: BPT) is a FTSE 250 listed United Kingdom-based private equity and credit fund manager. It is focused on investing in middle-market businesses via four distinct fund strategies. The Middle market strategy is implemented via its flagship buyout fund, which invests in businesses typically valued between 250 million euro to one billion euro. A small mid-cap strategy is implemented via Bridgepoint development capital, which is focused on investing in small mid-cap companies. This Report covers the Key Recommendation Rationale, Conclusion, and Recommendation on the stock.

Key Recommendation Rationale – Buy at GBX 282.60

• Capital Momentum Across Fundraising, Deployment and Exits: Bridgepoint demonstrated clear momentum in its core private markets activities, returning €2.6 billion to investors in the first half and building a robust exit pipeline for the next 18 months. Deployment remained on track across private equity, credit and infrastructure funds, while fundraising progressed well, reinforcing confidence in achieving the €24 billion target by the end of 2026. Early fee-paying status for key funds further supports forward earnings visibility.
• Resilient Earnings Mix with Improving Fee Quality - The Group continued to strengthen the quality of its earnings, with fee-related earnings rising strongly when excluding catch-up fees and the FRE margin improving to nearly 35%. Performance-related earnings remained a meaningful contributor, supported by successful exits and earlier-than-expected carry recognition. This balanced mix of recurring fees and performance income underpins earnings resilience through market cycles.
• Well-Positioned Platform for Long-Term Growth - Bridgepoint’s diversified platform across European mid-market private equity, private credit and US energy infrastructure positions it well to benefit from structural growth in private markets. Expanding product breadth, increasing investor diversification and exposure to long-term themes such as energy transition and private credit demand provide a strong foundation for sustained AUM growth and margin expansion over the medium term.

Valuation Methodology: Price/ Earnings Approach

Share Price Chart  

Conclusion

For conducting the valuation, the following peers have been considered - Man Group PLC (LSE: EMG), Aberdeen Group PLC (LSE: ABDN) and others.

Given its current trading levels, Resilient Earnings Mix with Improving Fee Quality, Capital Momentum Across Fundraising, relative valuation, and associated risks a ‘Buy’ recommendation is given on the stock at the Current Market Price of GBX 282.60 as of 16 December 2025 at 08:03 AM GMT. 

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 16 December 2025. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level which the stock is expected to reach as per the relative valuation method and/or technical analysis taking into consideration both short-term and long-term scenario.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and/or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’

Note 6: Dividend Yield may vary as per the stock price movement.