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(Sharecast News) - Bridgepoint reported "strong" full-year underlying profit growth, alongside a record amount of capital returned to clients.
For his part, chief executive officer Raoul Hughes described the medium-term prospects for private markets "exciting" and reiterated a goal to more than double its assets under management over the coming five to six years to $200bn.
At period end, Bridgepoint's AuM stood at $75.6bn and the fee paying AuM at 38.7bn.
The private equity outfit also reported a 51.9% jump in total pro-forma underlying operating income to reach 542.5m.
That tally included a full year of activity at US infrastructure investor Energy Capital Partners, the acquisition of which closed in August.
Also in pro-forma underlying terms, profit before tax jumped 83.4% to 249.8m.
On a reported basis on the other hand, profit after tax came in at 69.1m, versus 70.7m one year before, for basic earnings per share of 8.0p and 8.7p, respectively.
A record 8.5bn was returned in 2024 to fund investors.
Management added that transaction volumes were increasing and pointed to "good" near-term visibility on several further exits for 2025, two-thirds of which were expected to materialise during the back half of the year.
The 'next cycle' fundraising target was raised from 20bn to 24bn and guided towards an EBITDA margin of 52-55% over 2025/26.
The company proposed a final dividend of 4.6p.
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