New York-based Bregal Sagemount is launching a dedicated credit strategy to provide direct lending to potential portfolio companies. The firm will also increase its commitment to Bregal Sagemount I to $650 million.
Bregal is putting the new strategy in the hands of Clayton Main, a former Goldman Sachs executive. Main will be one of the founding members of Bregal’s new specialty lending group in addition to heading up the credit strategy.
“The credit platform is a complimentary extension of the existing equity growth fund and will focus on providing flexible capital solutions to defensible growth companies,” Main said in a statement.
Managing partner Gene Yoon tells Private Equity International that the demand for debt solutions was compelling enough to launch the strategy. “The model will be similar to Goldman, we’re going to provide direct lending solutions to companies we are already looking at and expanding our solutions offering on the credit side.”
Bregal investments range in size from $15-75 million. Transactions done in partnership with Bregal Investments could see investment sizes of up to $150 million. Target investments will be in growth sectors, including business services, software and technology-enabled businesses, information and media, financial services and healthcare.
The fund will take control and non-control positions, and will make both equity and/or debt investments.
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