Bregal Sets $500M Fund For GS Vet Yoon

Gene Yoon, a Goldman Sachs veteran, has been named to lead Bregal Sagemount, a single-LP private equity firm with $500 million to put to use and a rather broad mandate, sister Web site peHub reported. Yoon, his partners and Bregal Sagemount will pursue not only conventional buyout plays, but also very late-stage “Series E, pre-IPO” investments, Yoon told peHub—but only companies that are scaling revenue. The vehicle is a 10-year committed fund with a five-year period in which most of the capital will be deployed.

Bregal Sagemount plans to invest $15 million to $75 million in companies, and in partnership with Bregal Investments, can invest up to $150 million, the firm said in announcing the new fund. Target sectors include business services, software and technology-enabled businesses, information and media, financial services and health care. The fund will take both control and non-control positions, and will make equity and/or junior debt investments.

The team will also be growing, Yoon said. “We’re going to continue to fill out the mid- and junior-level ranks.”

Additionally, Yoon’s shop will benefit from its affiliation to Bregal Investments in Europe—he says the family office’s European infrastructure ranks right up there alongside its ability to act as sole LP to a group of GPs, in terms of its value. Right now, the firm only has a New York office, but he said this won’t preclude Bregal Sagemount from striking out and making international investments.

Fortune magazine’s Term Sheet reported Yoon’s departure from Goldman earlier this year, and said he’d bring former Great Hill Partners colleague Phil Yates along with him (prior to joining Goldman Sachs, Yoon was with Great Hill). Also joining Yoon as partner is Daniel Kim, a former vice president in Goldman Sachs’ Americas special situations group.

(Jonathan Marino is editor/columnist for peHub.)