Bregal Sagemount has added senior debt as a new investment option for its debut fund, Bregal Sagemount I, LP (Fund I), a $500 million fund that closed in June 2012. To provide funding for the new effort, Bregal Investments has increased its commitment to Fund I by $150 million bringing total capital commitments to $650 million.
To lead the new credit effort, Bregal Sagemount has hired Clayton Main who has spent the last ten years at Goldman Sachs as one of the founding team members of its Specialty Lending Group. Mr. Main has worked closely with several members of the Bregal Sagemount team in the past, and he shares the same experience in the industries targeted by Bregal Sagemount.
Bregal Sagemount, based in New York (www.bregalsagemount.com), was founded by Gene Yoon in partnership with Bregal Investments in March 2012. Prior to launching Bregal Sagemount, Mr. Yoon was the Head of Private Equity for Goldman Sachs’ Special Situations Group.
“Since launching two years ago, our flexible capital approach has resonated strongly with market leaders in growth sectors. In our direct conversations with those businesses, we have found significant demand for debt capital, and credit is a natural addition to our existing capabilities in buyouts, growth equity, and structured equity,” said Mr. Yoon. “Our long history with Clayton made him the logical choice to head the strategy for us.”
Fund 1’s original mandate was to make equity and/or junior debt investments of $15 million to $75 million in control or non-control situations. By co-investing with Bregal Investments, Bregal Sagemount can invest up to $150 million per transaction. With the new credit mandate, Fund I will now make senior debt investments as well. Sectors of interest continue to be business services, software and technology, information and media, financial services, and healthcare.
Bregal Investments is the corporate investment business of Cofra Holding AG, a sixth-generation family holding company based in Switzerland. Cofra Holding’s other businesses include C&A, a clothing retail organization, and Redevco, a large real estate enterprise. Bregal invests directly in equity capital in public and private situations and in private equity funds and has invested over $9 billion since its inception in 2002. Bregal maintains offices in New York and London (www.bregal.com).
2014 PEPD • Private Equity’s Leading News Magazine • 10-31-14
