Former Goldman exec leads new Bregal fund

Bregal Sagemount, a $500m vehicle led by Gene Yoon, will take control and non-control investments in growth-oriented companies.

Former Goldman Sachs executive Gene Yoon has joined Bregal Investments to lead the family office’s latest private equity vehicle, Bregal Sagemount. 

Before joining Bregal, Yoon was the head of private equity for Goldman’s Americas special situations group. He was also a partner at Great Hill Partners, a mid-market private equity company. 

Yoon characterised the partnership as a “natural congregation” in a conversation with Private Equity International on Monday, adding that his focus on the mid-market fit well within Bregal Investments’ private equity strategy. 

Bregal Sagemount is a $500 million fund for growth-oriented investments. The fund will invest between $15 million and $75 million in companies, and can invest as much as $150 million in partnerships with Bregal Investments. 

Bregal Investments has committed the majority of the $500 million in  the Sagemount fund, with the management team also committing capital, Yoon said. 

Whereas most Bregal Investments-backed vehicles tend to invest in leveraged buyout and control situations, Sagemount will focus on growth sectors like business services, software and technology-enabled businesses, information and media services and healthcare, Yoon said.

“We’re much more forward leaning into growth-oriented sectors,” Yoon explained. “We apply a pretty flexible structure. We can look at control deals and non-control deals and are comfortable in both positions.”

There is little to no overlap with a similar-sized vehicle launched by Bregal Investments earlier this year, Yoon said. Bregal Partners, a $500 million vehicle led by two former executives from mid-market specialist Centre Partners Management, focuses largely on control investments in the in the consumer, food, healthcare and energy services industries. 

Within healthcare, Sagemount focuses on more growth-oriented subsectors than Bregal Partners, Yoon said. 

Bregal Investments was founded in 2001 and has invested more than $5 billion since its inception. The firm has offices in New York and London. Bregal Investments is the corporate investment arm of Cofra Holding, a family holding company based in Switzerland.