Investors

Ardian tender offer for Bridgepoint III receives tepid response

The global investment firm’s offer of par to 30 June NAV was not taken up by the majority of LPs, Secondaries Investor has learned.

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Ardian‘s tender offer to investors in buyout firm Bridgepoint‘s 2005-vintage fund met a lukewarm response with a majority of limited partners opting to keep their stakes, Secondaries Investor has learned.

London-headquartered Bridgepoint selected Ardian as the exclusive buyer to offer liquidity to limited partners in its €2.5 billion Bridgepoint Europe III fund, according to three sources familiar with the deal. The process began in the summer and Aridan offered LPs par to 30 June net asset value, two of the sources said.

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