Bridge Growth Partners raises $790 million for Solace continuation fund
Updated
Updated · Bloomberg · May 5
Bridge Growth Partners raises $790 million for Solace continuation fund
8 articles · Updated · Bloomberg · May 5
The secondary transaction was co-led by Apogem Capital, Golub Capital, HSBC Holdings and Schroders Capital, while Healthcare of Ontario Pension Plan rolled over a significant equity stake.
The single-asset continuation fund allows Bridge Growth to keep owning infrastructure software company Solace for longer rather than exiting immediately.
Continuation funds are secondary-market vehicles that let private equity firms provide liquidity to existing investors while extending ownership of portfolio companies.
As PE firms retain 'trophy' assets, are investors getting future growth or just paying new management fees?
Are continuation funds a sign of private equity's resilience or a symptom of a broken exit market?