Bridgepoint asks for time

City A.M. Reporter
BRITISH private equity firm Bridgepoint has asked its investors for more time to invest its biggest buyout fund, the latest manager to seek an extension amid a slow recovery.

Bridgepoint, the owner of sandwich chain Pret a Manger and MotoGP organiser Dorna, has sought a 12-month extension for its €4.8bn (£4.1bn) Bridgepoint Europe IV fund, which is set to expire in November, so that it is not rushed into spending the rest of the fund it is still to use.