01 April 2020

Carey Olsen advises Bregal Sagemount on US$1.5 billion launch

Carey Olsen's investment funds team in Jersey has advised leading private equity firm Bregal Sagemount on the launch and final closing of Bregal Sagemount Fund III (Fund III) at US$1.5 billion.

Fund III, which exceeded its fundraising target of US$1.35 billion, will continue the investment strategy Bregal Sagemount has pursued since its inception in 2012 and focus on providing flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations.

Working alongside onshore counsel Goodwin Procter LLP, Carey Olsen advised on all Jersey legal and regulatory aspects of the launch of Fund III, which comprises of five Jersey Private Funds. The team was led by partner Robert Milner and assisted by senior associate Nienke Malan.

Robert said: "We're delighted to have once again assisted Bregal Sagemount on the launch of its latest growth fund. The fact that Fund III easily surpassed its initial fundraising target speaks volumes for the firm's reputation in the market.

"It is also pleasing to see the fund utilise the Jersey Private Fund regime so effectively, which not only underlines the continued attractiveness of the jurisdiction as a centre for private equity funds but also the growing popularity and familiarity of our private funds regime among experienced and established fund managers such as Bregal Sagemount."

Fund III is comprised of institutional investors with a long-term commitment to private equity, including endowments, pension funds, insurance companies, and principal advisory firms.