Bregal Sagemount collects $960m

UK-based firm closes ‘one and done’ fund above its target size.

Bregal Sagemount II has held a first and final close on its hard-cap of $960 million, surpassing its original target of $800 million. The oversubscribed fund remains focused on the firm’s strategy of pursuing high-growth markets across a number of industries.

This is the first time that Bregal Investments has opened one of its funds to outside investors that are not associated with the firm. Limited partners in Bregal Sagemount II include pension funds, endowments and insurance companies. The firm plans to continue with this strategy in the future, following the successful close of Sagemount II.

Bregal Sagemount I held a final close on $500 million in June 2012, with all capital raised from Bregal and its subsidiaries.

Goodwin Procter and Dechert provided legal counsel for the fund, and MVision Private Equity Advisers acted as the advisory firm.