Bridgepoint asks for time
BRITISH private equity firm Bridgepoint has asked its investors for more time to invest its biggest buyout fund, the latest manager to seek an extension amid a slow recovery.
Bridgepoint, the owner of sandwich chain Pret a Manger and MotoGP organiser Dorna, has sought a 12-month extension for its €4.8bn (£4.1bn) Bridgepoint Europe IV fund, which is set to expire in November, so that it is not rushed into spending the rest of the fund it is still to use.