Bregal Sagemount Hits Hard Cap

Bregal Sagemount has held a final, hard cap and above target closing of Bregal Sagemount Fund III LP with $1.5 billion of capital. The new fund’s original target was $1.35 billion.

Limited partners of Fund III include institutional investors including endowments, pension funds, insurance companies, and principal advisory firms.

New York City-based Bregal Sagemount makes control and non-control investments of $40 million to $150 million in companies active in the following sectors: software, digital infrastructure, healthcare IT services, business and consumer services, financial technology and specialty finance.

“We are grateful for the support and trust from our existing investors and are pleased to welcome a select number of new top-tier institutions to the Sagemount partnership,” said Gene Yoon, founder and managing partner of Bregal Sagemount. “We believe this group of limited partners is expressing confidence in Sagemount’s differentiated approach to sourcing, disciplined investing strategy and significant value creation at our portfolio companies.”

Bregal Sagemount is part of Bregal Investments, the corporate investment business of Cofra Holding, a sixth-generation family holding company based in Switzerland. Cofra’s other businesses include C&A, a fashion retail business, and Redevco, a large real estate enterprise.

Fund III is the second fund from Bregal Sagemount to seek outside investors. The firm’s second fund closed in February 2017 at its hard cap of $960 million. Fund I closed in June 2012 with $500 million of commitments. Investment vehicles associated with Bregal Investments were the sole investors in Fund I.

Houlihan Lokey Capital was the placement agent for Fund III and Goodwin Procter provided legal services.

© 2020 Private Equity Professional | March 4, 2020

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