Listing likely to reveal some large individual fortunes – and Bridgepoint isn’t even in super-league of buyout firms
How lucrative is the living in the world of private equity? Prepare for a glimpse inside the machine because Bridgepoint, one such buyout firm, is taking the rare step of listing its shares in London. Back-of-the-envelope arithmetic suggests some large individual fortunes will be revealed.
Bridgepoint, with €27bn under management, is expected to be valued at roughly £2bn, though it’s unclear if that is before or after it has raised the £300m it is seeking to fund expansion. Even at £1.7bn, though, the numbers will be big because only 20% of the firm is currently owned by an outside investor, Dyal Capital. The rest is owned by the staff, and one can assume the 170 “investment professionals” will own the bulk of that. So call the average shareholding £8m among that large crew. Not bad.
