Brenninkmeijer to back US fund

The Dutch family’s Bregal Holdings investment unit is backing the launch of an unnamed US buyout fund with a commitment of up to E650m.

Having made its mark on the European private equity market earlier this year with a cornerstone investment in Englefield Capital's debut fund, the Brenninkmeijer family is planning to make a similar commitment in the US, Bloomberg reports.

 

Bregal Holdings, the family office of the wealthy Dutch family which owns the C&A department store chain, is planning to invest a similar amount to the E650m committed to Englefield Capital, the debut fund launched by former Warburg Pincus partner Dominic Shorthouse.

 

Speaking to Bloomberg at the Private Equity COO & CFO Forum in London, Bregal Chief Financial Officer Edwin Niers said: “We plan to commit a similar amount to start a new private equity firm in the US.” Niers declined to confirm the name of the firm or managers of the new fund.

 

Bregal, which is headed by Louis Brenninkmeijer and Yves de Balmann, former co-head of investment banking at Deutsche Bank, is also planning to hire an investment manager to commit funds to other private equity funds. The Brenninkmeijer family fortune is estimated at $4.1bn. 

  

Bregal’s plans are further evidence of some of European's richest family offices seeking to shift the investment focus of their funds away from the public markets, which despite recent mild upturns, are still significantly down on previous years. Bregal was also one of the major backers of the buyout of Deutsche Bank’s later stage private equity portfolio, which was sold to MidOcean Partners in March.

 

Earlier this year the Halley family, founders of French supermarket chain Promodes, invested E300m in Change Capital Partners, a buyout firm launched by Luc Vandevelde, chairman of Marks & Spencer. The family also set aside a further E700m for co-investment opportunities.