Bridges Fund Management

Bridges Fund Management, established in 2002 by Michele Giddens, Philip Newborough, and Sir Ronald Cohen, operates as a specialist private markets investor with a clear focus on generating both financial returns and positive social and environmental impacts. The firm was conceived from the realisation that a significant gap existed in the market for investments that intentionally target societal challenges. Sir Ronald Cohen, a prominent figure in the investment world, co-founded Apax Partners before pioneering the impact investment movement, bringing extensive experience to the venture. Michele Giddens, with a background at the likes of Shorebank Corporation in Chicago, had early exposure to community development finance. Philip Newborough's experience was rooted in mainstream private equity. Together, their combined expertise created a foundation for an investment philosophy dedicated to creating a more inclusive and sustainable economy.

The firm manages a variety of funds across four distinct strategies: Bridges Property, Bridges Sustainable Growth, Bridges Social Outcomes Contracts, and Bridges Evergreen Holdings. This multi-strategy approach allows it to invest in a diverse range of opportunities, from property assets to small and medium-sized enterprises. Clients include pension funds, family offices, and individual investors who are looking to align their capital with their values without compromising on financial performance. The business model revolves around raising capital for these specialised funds and generating revenue through management fees and carried interest on the profits from successful investments.

Bridges Fund Management's investment thesis is built on the premise that societal needs, such as the transition to a sustainable economy and the demand for better health and education, represent significant market opportunities. The Sustainable Growth funds, for instance, back businesses that contribute to these themes, while the Property funds focus on acquiring and developing properties in underserved areas or those with strong sustainability credentials. A key differentiator is its rigorous impact management framework, which measures and reports on the social and environmental outcomes of its investments alongside financial performance. This dual-return objective has positioned the firm as a key player in the impact investing sector, which it helped to shape. One of its notable achievements includes being the first UK fund manager to become a certified B Corporation, underscoring its commitment to high standards of social and environmental performance, transparency, and accountability.

Keywords: impact investing, private markets, sustainable growth, social outcomes, property funds, B Corporation, specialist investor, dual-return, ESG, private equity