Ex-Goldman Pro Yoon Launches $500M Fund with European Backers

by Jonathan Marino, PE HUB

Today, PE and VC GPs who are scrimping and scrounging to put together funds can find a man to point at who causes them to become green with envy. His name is Gene Yoon, and the Goldman Sachs veteran will lead Bregal Sagemount, a single-LP private equity firm with $500 million to put to use and a rather broad mandate.

Yoon, his partners, and Bregal Sagemount will pursue not just traditional PE plays, but also very late-stage “Series E, pre-IPO” investments, Yoon tells peHUB—but only companies that are scaling revenue. The fund is a 10-year committed fund with a five-year period in which most of the capital will be deployed.

Still, Yoon and his team will pursue a range of industries: business services, software and technology-enabled businesses, information and media, financial services—even healthcare deals. That team will also be growing, Yoon told peHUB.

“We’re going to continue to fill out the mid and junior-level ranks,” he said.

Additionally, Yoon’s PE shop will benefit from its affiliation to Bregal Investments in Europe—he says the family office’s European infrastructure ranks right up there alongside of 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.

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, former Vice President at Goldman Sachs’ Americas Special Situations Group.

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