News / 13 July 2020
Bridgepoint merger with EQT Credit implemented with Crestbridge providing fund and management company services
Crestbridge is delighted to be supporting Bridgepoint, providing fund and management company services as EQT Credit transitions as part of recent merger.
With the transfer of the business to new ownership, Crestbridge has been appointed as part of the transaction to enable the EQT Credit business to transfer to Bridgepoint with a clean regulatory and service wrapper. EQT Credit, a $3.9bn Credit fund, who had previously relied on parent owner EQT to provide AIFM services from its Luxembourg based in-house team will appoint Crestbridge to act as AIFM. The deal results in an AuM of close to EUR 7bn for the combined group.
This transaction is one the largest in the Credit industry this year, and Crestbridge’s ongoing support for the business will more than triple its own exposure to the Credit fund space.
Michael Newton, Head of Institutional Client Operations, said: “This transaction follows our strategy to focus on complex asset classes like credit, private equity and real estate. In supporting this deal to come to a quick close, our asset class specialists demonstrated how important expertise is for a deal of any size.”
“We are so pleased to have this opportunity to work with such a sophisticated team at the newly enhanced Bridgepoint business, and are looking forward to growing with them over the coming years. This transaction contributes to consolidating our position as a leading third-party management company provider,” added Daniela Klasén-Martin, Group Head of Management Company Services, Managing Director Luxembourg.
The Crestbridge team supporting the transition is led by Michael Newton, Daniela Klasén-Martin, Dominic de Mariveles and James Milner.
Crestbridge is a leading global administration, management & corporate governance solutions business.