Bregal Sagemount closes second vintage on $960m

Amedeo Goria
09 February 2017

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Private equity firm Bregal Sagemount, part of asset manager Bregal Investments, has held a first and final close on the $960m hard-cap of its second buyout vehicle Bregal Sagemount II.

The fund launched earlier this year with an initial target of $800m. According to a statement, the vehicle is the first fund from the Bregal Investments group to seek commitments from outside investors.

Law firms Goodwin Procter and Dechert acted as legal counsel during the fundraising activity, while placement agent MVision Private Equity Advisers acted as a strategic fundraising adviser.

The GP is part of Bregal Investments, the private equity investment business of Swiss family-owned holding company Cofra. Bregal Investments currently has $12.5bn in assets under management and launched Bregal Sagemount in partnership with the GP's management team in June 2012.

Investors
As opposed to its predecessor, the captive $500m Bregal Sagemount I, Bregal Sagemount II raised capital from institutional LPs, including endowments, pension plans and insurance companies. Investment vehicles associated with Bregal Invesmtents, which were sole investors in the GP's maiden fund, also committed capital to the second vintage.

Investments
The GP targets majority and minority stake acquisitions through equity or debt injections, including senior or subordinated debt investments. Bregal aims to operate as the lead investor in transactions involving either a credit injection in the $8-30m range or equity acquisitions via a $25-150m ticket.

As part of its investment strategy, the GP targets companies with revenues between $15-250m operating in the software, digital infrastructure, healthcare IT services, business and consumer services, as well as financial technology and speciality finance sectors.

People
Bregal Sagemount – Gene Yoon (managing partner); Daniel Kim, Phil Yates, Clayton Main (partners).