Bridgepoint Development Capital (“BDC”) is to acquire a majority stake in PEI Media – the global provider of insight, market-data and business conferences for professionals active in alternative asset class investment. Details of the transaction are not disclosed. The business is being acquired from its founders, management and minority shareholder, LDC.
Private investment markets in real estate, infrastructure, private equity, and private debt – including specialist sector-specific activities within those private asset markets – are the key focus of PEI Media. The Group has developed deep connections with international sources of alternative investment capital since its inception in 2001. Clients served include public sector and company pension plans, insurance groups, endowments and family offices – as well as leading private-asset fund managers who raise and deploy capital raise from institutional investors.
Commenting on the acquisition, PEI Media Chief Executive Tim McLoughlin said: “This is a pivotal moment for PEI. We’ve had a tremendously supportive investor in LDC and we’re now looking ahead with even greater ambition for the scale and growth of our enterprise. As the global investment market continues to transform and mobilise towards Alternative Assets this is great time to lock into a new partnership with Bridgepoint who bring an entirely new level of global expertise and experience in helping companies achieve scale and value-adding complexity. We’re looking forward with real excitement to delivering the organic and acquisitive opportunities we’ve been working on with the Bridgepoint/BDC team.
BDC Partner Robin Lawson said: “PEI is recognised for its differentiated insight into the worlds of multiple alternative asset classes. As investors look for higher yields, continued inflows into these classes means that there is growing demand for the information, analysis and event-networking opportunities of providers like PEI. Today’s investment by BDC will support the continued international expansion of the business as well as further development of its technology platform and digital product set. Our aim in working with PEI’s management will be to ensure that it remains best-placed to scale its digital offering in a growing market and deliver progressive evolution of its specialist-brand in line with advancing client needs. In this way, we expect that increasingly sophisticated customers, both existing and new, will remain able to access the information and market connections they increasingly need to be successful in their global alternative investment strategies.”
BDC estimates that the alternative asset subscription market (excluding events) for the authoritative services provided by PEI is worth >£200 million annually and is expected to grow at 10-15% per annum. The global market potential for specialist high-level conference events is larger. The market opportunity for PEI is therefore very significant.
PEI was formed following a management buyout from Euromoney Institutional Investor plc. It has grown a diversified portfolio of alternative asset-focused publications, databases and branded events. Headquartered in London with offices in Hong Kong and New York, the company currently employs c. 180 people and has clients based in over 80 countries. The company’s publications include PERE, Infrastructure Investor, Private Debt Investor, Private Equity International, Real Estate Capital, Private Funds Management, Agri Investor and Secondaries Investor, amongst others.
Advisers involved in this transaction were:
- for BDC: Raymond James (Corporate Finance), Deloitte (Financial and Tax), Travers Smith (Legal), AMR (Commercial Due Diligence)
- for PEI: Livingstone Partners, Squire Patton Boggs, PWC, EY, Intechnica, Liberty Corporate Finance
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