Bridgepoint, a European mid-market buyout firm, has closed its fourth fund, Bridgepoint Europe IV. with more than €4.8 billion ($6.1 billion), according to a Bridgepoint spokesman.
The funds target was €5 billion.
Fund executives plan 20 to 25 buyouts valued at up to €1 billion in all sectors. Existing investors that recommitted increased their commitments by an average of 55%.
Investors in the fund include the $197.6 billion California Public Employees' Retirement System, $28.5 billion South Carolina Retirement System Investment Commission, $15.4 billion New Mexico State Investment Council, $14.5 billion Nebraska State Investment Council and the $11.7 billion Los Angeles Fire & Police Pension System.