Proactive Investors - Bridgepoint Group PLC (LON:BPTB) is to buy Energy Capital Partners Holdings LP in a deal with an upfront enterprise value of £835 million.
This comprises 235 million of newly issued Bridgepoint shares, £233 million of cash, and £179 million of ECP's existing debt.
Bridgepoint said the newly combined platform will span private equity, infrastructure and credit with offices across Europe, North America and Asia and create a €57 billion global private markets asset manager.
The deal will be accretive for Bridgepoint shareholders from the day of closing across fee-related earnings, EBITDA and net income per share
Brigdepoint said the transaction accelerates the enlarged group's growth ambitions and significantly diversifies its income streams.
Bridgepoint is a London-based private equity investor that listed in London two years ago this month.
Following the acquisition, which is subject to shareholder approval, it plans to split the roles of CEO and chair. William Jackson will continue his role as chair and focus on the core private equity business.
Meanwhile, managing partner Raoul Hughes, an "architect of both ECP and Bridgepoint Credit transactions", will become CEO from 1 October.
Further, Bridgepoint announced plans for a new £50 million share buyback.