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Bridgeport Capital Business Case

Bridgeport Business Case

Bridgeport Capital Business Case

David Plumridge, Managing Director at Bridgeport Capital, tells us how Preqin Solutions sped-up the reporting process and improved the quality of presentations at the firm.

Challenge

The situation before we implemented Preqin Solutions was quite manual. It was Excel- and email attachment-based, and it required a lot of physical processes. At the end of each quarter, it probably took a week of full-time resource to collect all the information we needed. It was very time consuming, inefficient and prone to error.

Solution

We chose Preqin Solutions because it is dedicated to portfolio management and private equity. We have $250mn under management so we are not a massive fund and price was a consideration.

Setting up the platform was straightforward. It is more of a configurable platform which you can then customize, as opposed to one that you have to build in order for it to work for you. The platform is very flexible and you can tweak it to suit your requirements. The experience of setting-up the platform was a positive one overall.

Preqin Solutions sped-up the process of reporting from our portfolio companies. It has made it more timely. What was ad-hoc analysis is now much more formalized, and you are more likely to spot trends or issues when you have a more formal or rigorous process. Which we now have.

Of the directors, I have responsibility from a fundraising and investor relations perspective. We use the platform to run our annual investor data. In terms of presenting trends, valuation methodologies and exit plans, we use the templates and charts a lot. The platform has improved the quality of our   presentations. It is structured, it is formalized and it gives our stakeholders the information that they are after.

I’m in the process of preparing an investor deck on my screens; cutting and pasting a lot of the Excel outputs from the system. The platform demonstrates credibility, and that we understand what’s required to be successful in fundraising. It’s helpful both for reporting to existing investors, and demonstrating our credibility to potential investors.

There’s two ways in which the software has helped us to achieve our business goals. One is that it has given existing investors more visibility and  granularity. They can see when we give them the valuation how it moves from quarter to quarter. Seeing this in a structured format is quite helpful for existing investors.

Secondly, for new investors the platform demonstrates that Bridgeport has a sophisticated and robust back office. When they want to understand how their portfolio is performing, we will be able to deliver without having to do a lot of manual processes, which take a long time.

The Preqin Solutions platform provides credibility. I just love, rather than hassling portfolio CFOs, that it automates the monthly reporting cycle. Rather than hunt all over the place for spreadsheets and pdfs to find the information we’re after, there’s one central depository of truth, which is very helpful.

Why Bridgeport Capital chose Preqin Solutions

  • The best of breed on Portfolio Management in Private Equity
  • Flexibility in the upload process and access rights per user
  • Flexibility afforded by user-defined, dynamic dashboards

Download Bridgeport business case:  Bridgeport Capital Business Case

About Bridgeport Capital



Bridgeport Capital was founded by Managing Directors David Plumridge and Brendan Sulway in 2015. Bridgeport Capital is a leading Australian mid-market private equity fund manager providing succession, buyout and growth capital to Australian and New Zealand based companies with EBITDA typically ranging between $5m and $30m. Bridgeport Capital is currently actively seeking new acquisition opportunities.

In August 2016, Bridgeport Capital announced that it had acquired 100% of the share capital in Hawkesbridge Private Equity, a private equity fund manager currently managing over $200m in private equity funds on behalf of institutional and high net worth investors.

www.bridgeportcapital.com.au

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