Bregal Investments LP, a private equity fund manager, has hired Jan Faber, David Young and Joost Becker, to join an existing team headed by Chuck Flynn. The team manages Bregal Fund of Funds, a EUR750 million (approximately US$900 million) global private equity fund of funds investment programme
Faber will head the London office. He joins Bregal from Henderson Private Capital, the private equity division of Henderson Global Investors, where he was Head of the Private Equity Fund of Funds Team based in London. Prior to joining Henderson, Faber worked at the International Finance Corporation, the private sector arm of the World Bank Group in Washington D.C., where he was involved in investing in private equity funds in emerging markets.
Young joins Bregal from Merrill Lynch where he worked for three years in the Private Equity group. Previously he worked as an associate with General Atlantic Partners and with Robertson Stephens & Company. He will be based in New York.
Becker joins from Fortis Bank where he worked in the Corporate and Investment Banking group as part of both the transport & logistics team and the capital structures team.
“We are very pleased that Jan, David and Joost are joining us to strengthen our existing private equity fund investment team, which includes Chuck Flynn, Bernard Brenninkmeijer, and Wolter Brenninkmeijer, and which operates from offices in both London and New York,” says Yves de Balmann, Co-Chairman of Bregal.
Bregal’s investment strategy is to invest in premier buyout funds in a range of sizes and sectors in both the U.S. and Europe. The strategy includes an active focus on secondary positions and co-investment opportunities.
Bregal has earmarked over euro 2.5 billion (approximately three billion dollars) to invest in private equity funds, secondary positions and co-investments.
Louis Brenninkmeijer, Co-Chairman of Bregal explains: “In our fund of funds activity, Bregal aims to deploy euro 750m in the next few years in a diversified buyout portfolio with commitments between euro 20 million to euro 70 million in each fund. Core to our philosophy is to operate as a value added investor in the funds through an active participation on the Advisory Boards and participation in co-investment opportunities. With our three new team members, we will have the capacity to proactively build long-term relationships with the top quality private equity firms, and execute on acquiring secondary and co-investment positions.”
Bregal Investments was formed in 2002 to formalize the private investment activities of COFRA Holding AG, a private Swiss-based family company. In 2003, Bregal invested EUR650 million (approximately US$790 million) in London-based Englefield Capital LLC, which focuses on private investments in middle-market companies in western Europe. Also last year Bregal invested US$650 million (approximately EUR550 million) in Centre Partners, a New York-based private equity firm focused on supporting middle-market companies.