Jan Faber has been appointed to head up the fund of funds operation at the new London office of Bregal Investments, which invests on behalf of the wealthy Brenninkmeijer family. Bregal, which also has a New York office, launched its London base in Old Bond Street on 1 September 2004.
Faber joins Bregal from Henderson Private Capital, the private equity division of Henderson Global Investors, where he was head of the fund of funds team in London. Prior to that he was at the International Finance Corporation, the private sector arm of the World Bank in Washington DC, where he invested private equity in emerging markets.
Faber has been joined in London by Joost Becker, who was previously at Fortis Bank, where he worked in the corporate and investment banking group as part of both the transport and logistics team and capital structures team.
Meanwhile, Bregal has also hired David Young to its New York office. Young most recently spent three years in the private equity group at Merrill Lynch, having previously worked as an associate with General Atlantic Partners and Robertson Stephens & Co.
Bregal is currently investing the Bregal Fund of Funds, a €750 million ($900 million) global private equity fund of funds investment programme targeting buyout funds in a range of sectors and sizes in the US and Europe. The strategy includes an active focus on secondary positions and co-investments.
“In our fund of funds activity, Bregal aims to deploy €750 million in the next few years in a diversified buyout portfolio with commitments between €20 million to €70 million in each fund,” said Louis Brenninkmeijer, co-chairman of Bregal. “With our three new team members, we will have the capacity to proactively build long-term relationships with the top quality private equity firms, and execute on acquiring secondary and co-investment positions.”
In 2003, Bregal invested €650 million in London-based Englefield Capital, which focuses on investments in mid-market companies in Western Europe. In the same year, it committed $650 million to Centre Partners, a New York-based private equity firm also focused on the mid-market.