Bregal Sagemount Closes $3.5B Fund V

Bregal Sagemount closed its fifth flagship fund at its $3.5B hard cap in just over four months, with support anchored by existing LPs and select new institutions. Contra Costa County Employees’ Retirement Association committed $50M and Boston Retirement System pledged $10M to Fund V, which will continue the firm’s growth equity strategy focused on high recurring revenue businesses. In Europe, Charterhouse Capital Partners secured roughly €1B at the first close of CCP XII toward a €1.5B target, including a $100M commitment from Teachers Retirement System of Louisiana.

In other private fund news, Oxyzo Financial Services launched Oxyzo Credit Fund I with an initial close backed by HNWIs, family offices, and institutional investors, and Paradigm is reportedly targeting up to $1.5B for a new fund expanding beyond crypto into AI and robotics.

Allocator activity was led by Indiana PRS and Massachusetts PRIM. Indiana approved $635M across private markets and hedge funds, including $300M to a HarbourVest early-stage venture SMA and $125M to Bregal Sagemount V-B, alongside commitments to Formentera Partners, Longpoint, DE Shaw, and Basalt. Mass PRIM allocated $640M across five funds, committing $200M each to KKR’s Opportunistic Real Estate Credit Fund III and Quad-C Partners XI, $180M to JEN 9, and $60M across two Spark Capital vehicles, while advancing equity benchmark changes and launching an RFP for a new manager. Meanwhile, Mississippi PERS issued RFPs for general and alternatives consulting across its $40B portfolio. 

People moves included Littlejohn naming Shant Mardirossian as COO and head of strategic initiatives, Madison Capital Group hiring Archie Hughes to lead Southern RIA distribution, and Reinsurance Group of America appointing Jayson Bronchetti as EVP for investments.

Read on for all the day’s fundraising news headlines.

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Private markets opened 2026 with improving LP sentiment, accelerating fundraising at the top end, and a meaningful pickup in transaction activity. CD&R is targeting $26B+ for Fund XIII, Francisco Partners is seeking $18B across flagship strategies, and Andreessen Horowitz raised $15B across venture platforms. Institutional allocations leaned toward credit and real assets, while Dakota tracked approximately 1,900 announced deals totaling $312B, including Calpine ($27B), Worldpay ($24B), and Penumbra ($14.5B), signaling liquidity is beginning to move again.

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