Bridgepoint has acquired Energy Capital Partners (ECP) for £835m in an attempt to boost its presence in mid-market asset investing.

Bridgepoint invests mainly in private equity and private debt, managing more than €38bn in assets across Europe, the US and China.

However, the company has said in a statement that it is taking a “decisive step forward in becoming a more diversified alternative asset manager” with the acquisition of ECP, adding to its product and geographical diversification.

ECP invests funds in energy transition, electrification and de-carbonisation infrastructure, including power generation, renewables and storage, and has raised over $30bn in capital since its inception in 2005.

The acquisition comes at a time when investment in infrastructure in the global decarbonisation effort is forecast to reach $1.9trn per year by 2050, creating significant investment tailwinds and multiple potential growth avenues.

Chairman at Bridgepoint, William Jackson, said: “Joining forces with ECP is an important powerful next step in Bridgepoint’s strategic objective of building a globally-scaled, diversified platform in middle-market private assets investing. The transaction accelerates our scale, leadership and strategic development, enhances the quality of the group’s earnings and margin profile, and provides greater diversification and earnings growth potential for shareholders.

“We have a high bar for strategic mergers and acquisitions and ECP is one of the few platforms we have identified which clearly surpasses it, both from a strategic and financial perspective.”

Founder and senior partner at ECP, Doug Kimmelman, added: “The opportunity to join forces with Bridgepoint is uniquely attractive. Our businesses are not only highly complementary - without any overlapping or conflicting investment strategies - but our firms importantly share a culture of collaboration, integrity and investment excellence making this a highly compelling opportunity for our investors and our employees alike.

“We are very fortunate to have access now to a public equity currency to support our growth, while broadening the ownership of ECP across our firm, allowing us to continue attracting and retaining the very best team, especially in a period of heightened interest in the energy transition.”

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