Bridgepoint Group explores sale of $1.15B in private credit stakes via secondaries deal

Bridgepoint Group, the London-listed alternative asset manager, is considering offloading more than €1 billion ($1.15 billion) in private credit positions through a secondaries transaction. The deal, if it proceeds, would rank among the larger private credit secondary sales this year and highlights a broader trend: even well-capitalized firms are hunting for liquidity mechanisms in a market that has grown enormous but remains stubbornly illiquid.

The proposed structure would reportedly involve a continuation vehicle, essentially a new fund that absorbs the existing loans. That setup lets limited partners who want out cash in their chips, while those who want to stay invested can roll their positions forward.

What Bridgepoint brings to the table

Bridgepoint manages more than €17 billion in corporate credit assets under management across strategies that span direct lending, credit opportunities, and syndicated debt.

The firm has been active on multiple fronts this year. Earlier in 2026, Bridgepoint priced its inaugural collateralized loan obligation for the year at €403 million. The company also published its interim results on July 17, 2026, offering a window into its operational performance ahead of this potential secondary sale.

Why secondaries are having a moment

Continuation vehicles have emerged as one of the preferred tools for solving this mismatch. Instead of forcing a fire sale of underlying assets, they allow a fund manager to transfer positions into a new structure, giving existing investors the choice to exit at a negotiated price or stay the course.

The second quarter of 2026 saw record default rates in parts of the private credit universe, which means buyers in secondaries deals are likely to demand steeper discounts.

The digital asset angle

In November 2025, Bridgepoint acquired a majority stake in ht.digital, a company specializing in audit and assurance services for digital assets and blockchain technology. Bridgepoint’s private credit portfolio doesn’t include direct cryptocurrency exposure.

Watch the pricing closely if this deal moves forward. The discount or premium to net asset value will tell you a lot about how the market is valuing private credit risk right now, especially in a quarter marked by elevated defaults.

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