Bregal Sagemount Raises $960M For Oversubscribed Second Fund

Feb 7 2017 | 11:17pm ET

Bregal Investments unit Bregal Sagemount has raised $960 million in capital commitments for its second private equity fund, significantly exceeding its $800 million target and closing at its hard cap.

The new fund, named Bregal Sagemount II, LP, is reportedly the first fund from the Bregal Investments group that is open to outside investors. It will continue the strategy of its $500 million in-house predecessor fund, providing capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of industries and transaction situations.

In addition to a sizeable internal commitment, Sagemount II’s limited partners include endowments, pension plans and insurance companies. 

“We are very pleased with the significant level of interest in our second fund,” said Gene Yoon, managing partner of Bregal Sagemount. “This fundraise underscores the success Bregal Sagemount has realized in its short history, which is a credit to our entire team of experienced and hard-working professionals.”

Goodwin Procter LLP and Dechert LLP acted as legal counsel. MVision Private Equity Advisers acted as strategic fundraising adviser.

Bregal Investments, a division of COFRA Holding AG, has invested over $12.5 billion globally since 2002. It launched Bregal Sagemount in partnership with the Sagemount management team in June 2012.

Bregal Sagemount has $1.7 billion in committed capital and invests $25 million - $150 million per transaction into control and non-control positions in both equity and/or junior debt.  Targeted sectors include software, digital infrastructure, healthcare IT services, business and consumer services, and financial technology/specialty finance.

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