Bregal Milestone to launch second fund

Bregal Milestone II was registered in July 2021 as a Luxembourg-domiciled vehicle.

The GP’s debut Milestone fund held a final close in July 2018 on EUR 400m. The fund makes equity investments of EUR 20m-60m, backing technology, healthcare, business services, consumer, high-value manufacturing and financial services companies.

The fund can provide both growth capital and debt, but it can also make buyout deals, primarily backing founder-led companies.

Bregal Milestone’s recent investments include a USD 70m investment in Ireland-based project management software Teamwork, as well as participating in a USD 115m funding round for Berlin-based location marketing platform Uberall.

The firm has made 11 platform investments to date. The GP sold its stake in Ireland-headquartered IT managed service firm Arkfire to BC Partners' Presidio in a USD 142m trade sale in November 2020.

Formed in 2018, Bregal Milestone is headed by co-founders and managing partners Jan Bruennler, Philippe Lautenberg and Cyrus Shey. Prior to founding Bregal Milestone, Lautenberg and Shey were co-founders and heads of the European middle market lending business at Credit Suisse, while Bruennler was a partner at Makuria Investment Management.

The firm is backed by Bregal Investments, which was founded in 2002 and is part of Switzerland-based Cofra Holding. Bregal Milestone is one of Bregal Investments’ five direct investment divisions, which include DACH-focused Bregal Unternehmerkapital.

Bregal Milestone had not responded to requests for comment at the time of publication.

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