30 November 2022
Carey Olsen advises Bregal Sagemount on final close of its $2.5 billion Fund IV
Carey Olsen's Jersey investment funds team have supported Bregal Sagemount (Sagemount) on the successful launch and final close of its latest flagship fund, Bregal Sagemount Fund IV.
The Fund, which reached its hard cap of US$ 2.5 billion, was launched earlier this year and had a 100% limited partner participation rate. The Fund's investor base comprised institutional investors with long-term commitments to private equity, including leading endowments, pension funds, large family office investors, and key consultant relationships.
The Carey Olsen team advising on the Jersey legal and regulatory aspects of the Fund's establishment was led by partner Robert Milner and supported by senior associate Arindam Madhuryya, associate Thomas Bulfin and trainee Hollie Herman. The team advised alongside onshore counsel Goodwin Procter.
Robert said: "It is always a pleasure to see clients flourish and having advised them since their very first fund, we are delighted to have been part of the team once again. This launch is a flagship for Jersey as it demonstrates the continuing attractiveness of the Jersey funds regime for managers based in the US. We look forward to the next stage in Sagemount's journey."
New York headquartered Sagemount is a leading growth-focussed private capital firm that invests in targeted sectors including software, financial technology & specialty finance, healthcare IT, business & consumer services and digital infrastructure. Its latest fund, which raised $2.5 billion in commitments, will continue the firm's investment strategy through providing strategic assistance and flexible capital to companies in high-growth sectors with high recurring revenues.