• Invested over £200m and generated more than £140m of proceeds for investors
• Continued our focus on sustainable needs-driven real estate, with ten new investments across our three key sectors: healthcare, low-carbon logistics and living
• Completed three new platform deals from our Growth Funds, all focusing on different elements of our ‘Sustainable Planet’ theme
• Supported six new projects in Ghana, Sierra Leone and Kenya via a new outcomes-based initiative for low- and middle-income countries (launched in partnership with the UBS Optimus Foundation)

In what was clearly a difficult year for private markets, it was also encouraging to see that appetite for sustainable and impact investing appeared to buck the general trend. (About three times as much money was raised for ESG/ impact funds in 2022 than in 2019, according to McKinsey & Co.).

Nonetheless, it’s clear that we need to go much further, much faster. We’re now half-way towards the Sustainable Development Goals’ target date of 2030, and we continue to lag behind in so many areas. In recognition of this – and to mark Bridges’ 20th anniversary – we recorded a new series called 20/30 Visions, in which 20 global thought leaders from a range of disciplines shared their ideas with us about how to accelerate the transition. Please do take a look if you haven’t already.

In this year’s report, we highlight some examples of how our investments are supporting this transition, across the Bridges platform. And we explain how we’re evolving our impact valuation methodology, to help us better understand the relative impact of different investment opportunities and incentivise truly sustainable impact performance. As investors, we believe this will not only achieve better outcomes for people and the planet; it will also help us identify resilient, needs-driven sectors and business models that will continue to deliver attractive returns even in a turbulent market.

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This has been a challenging year politically for the broader impact and sustainability movement. But we continue to see strong demand for solutions to some of our biggest social and environmental challenges – from housing and elderly care, to building decarbonisation and the energy transition – not least because of the growing evidence that these investments can create and preserve economic value.

What’s more, this year has also seen some positive developments in technology, policy and regulation – further strengthening our conviction that a more sustainable and inclusive future is still very much achievable.

Our report shows how the breadth of the Bridges group – from our property and private equity teams, to our specialist not-for-profit Outcomes platform, to our dedicated knowledge function, to our Impact Foundation – allows us to better understand the challenges we are trying to solve, and support a range of different solutions requiring different types of capital.

Click to read Bridges Annual Report 2025

In our 2023/24 Annual Report, we cover:

• Key highlights from across the Bridges platform, including a number of strong private equity exits
• New investments and case studies from our real estate portfolio, across all three of our key sectors: living, healthcare and low-carbon logistics
• An overview of the pioneering projects managed by our specialist Outcomes Partnerships team, with case studies from the UK, Kenya and Sierra Leone
• An update on the work of the Bridges Impact Foundation

None of this would be possible without the dedication and commitment of our management teams, partners, and investors. We are hugely grateful for their support, and we hope this report reflects that.

Please do take a look and let us know what you think.

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• More than £200m of capital deployed
• Our latest property fund closing on its hard cap
• Continued impressive NAV growth for Evergreen
• One of the world’s highest B Corp scores

This year is also momentous in another way: it marks 20 years since we launched our very first fund. This year’s report looks back at some of the key milestones on this journey, and reflects on how far we’ve come.

Today, sustainable and impact investing has become the fastest-growing and arguably most exciting area of the financial world. We’re proud of the role Bridges has played in this growth story, as a pioneer and thought-leader. And while there are clearly still huge challenges ahead, we continue to be inspired and encouraged by the talent and the capital flowing into this sector, and the exciting opportunities we are seeing through our own investment activities.

In this report, we showcase some examples of this from across the Bridges platform. We explain how we’re working with our partners to create value for our investors, alongside better outcomes for people and planet. And we outline how we’re evolving Bridges’ approach to impact management, in line with emerging best practice – including our own new climate commitments – and how this can help to address the current ESG backlash.

Please do have a read and let us know what you think!

If COP26 showed us anything, it’s that Governments alone cannot be expected to solve the pressing social and environmental challenges we face. Private capital also has a really important role to play. And the good news is that the economic argument for doing so is becoming more and more compelling.

In this year’s Annual Report, we look at some of ways Bridges has been supporting the transition to a more sustainable economy – against the ongoing backdrop of a global pandemic that has profoundly affected almost every aspect of our professional and personal lives.

Despite these challenges, however, this has been a very strong year for the Bridges funds, reflecting both our focus on resilient sectors underpinned by long-term growth trends, and the hard work of our teams and partners.

Download the Bridges 2020/21 Annual Report