Bpifrance helps build Bridgepoint fund

Bridgepoint is targeting a $375m to $535m fund to target small and medium-sized enterprises, with Bpifrance putting in $80m.

Bpifrance, the public investment bank of France, has committed €75m ($80m) to an investment fund currently being raised by private equity firm Bridgepoint, Les Echos has reported.

Bridgepoint is targeting a close of €350m to €500m for the fund, which will focus on SMEs and subsidiaries of larger companies that are struggling financially and have been unable to attract other kinds of capital.

Dubbed Bridgepoint Special Opportunities, the fund will aim to address a lack of growth in these companies, with a particular focus on businesses that are struggling with the aftermath of the 2008 crisis.

The fund will target businesses with revenues between €50m and €300m.

Bridgepoint previously supported 13 SMEs in Edmond de Rothschild’s portfolio in 2014, helping to safeguard 7,680 jobs, reducing their debt and accelerating their international expansion efforts.

If the Special Opportunities fund proves successful, the firm will seek to duplicate its formula in markets such as Italy, Spain and Germany with a second vehicle.

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