Bregal Unternehmerkapital III closes on €1.875bn

The fund was registered in November 2020. Bregal said in a statement that the fundraising process for BU III took four months.

Its predecessor vehicle, Bregal Unternehmerkapital II, held a final close in October 2018 on €1.3bn, surpassing its €1bn target.
Campbell Lutyens and Goodwin Procter advised on the fundraise.

Investors
Existing investors make up three quarters of the capital committed to BU III, the GP said in a statement, adding that the fund also has a number of new blue-chip LPs. According to Unquote Data, previous investors in Bregal’s funds include Golding Capital Partners, which contributed €7.4m to BU II.

Investments
Like its predecessor, the fund will target companies based in the DACH region. The fund will make equity investments of €50-250m, taking both majority and minority stakes. Bregal targets companies with positive cashflow and EBITDA of more than €10m. BU III’s predecessor vehicle generally invested €30-150m in companies with EBITDA between €5-30m and has 11 portfolio companies, according to Unquote Data.

In addition, the vehicle will make investments in northern Italy, focusing on family- and founder-owned businesses. As well as its office in Munich, Bregal has an additional office in Milan, which it opened in 2021.

The fund has made two investments so far, Bregal said in a statement: Immenstaad-based business decision modelling software platform Actico; and Hanover-based online golf products retailer Perfect Drive Sports Group, a portfolio company of Afinum.

People
Bregal – Jan-Daniel Neumann (managing director, co-founder); Florian Schick (managing partner, co-founder).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Funds
• Buyout
• DACH
• Southern Europe
• Bregal Investments
• Germany