Bregal Milestone III Closes at its Increased Hard Cap of €915 Million

7 Jul 2026
LONDON

Bregal Milestone (“Milestone” or the “Firm”), a leading European software private equity firm, today announced the final close of its third fund, Bregal Milestone III (“Fund III” or the “Fund”), at its increased hard cap of €915 million. The Fund was oversubscribed and marks a significant broadening of the Firm’s global investor base.

Completed in eight months from first close and achieved against a challenging fundraising environment, the result reflects the strength of Milestone’s AI-centric approach and demonstrable track record.

Jan Bruennler, Philippe Lautenberg and Cyrus Shey, Co-Founders and Managing Partners at Bregal Milestone, commented: “Bregal Milestone III reflects strong conviction in our approach to investing in mission-critical European software, AI and cybersecurity businesses and helping them scale. We are thankful for the support and confidence shown by our limited partners, both longstanding and new, and remain focused on executing the strategy that has defined Milestone since inception.”

Consistent with prior funds, Fund III’s strategy combines a deep sector-focused approach with bilateral sourcing and active partnership with founders and management teams. Value creation is accelerated by the Firm’s data and AI capabilities, including Bregal Milestone Amplify, which embeds production-grade AI within portfolio companies through forward-deployed engineers and AI architects. The Fund has already completed its first two platform investments and has developed a strong proprietary pipeline of opportunities across its target markets.

Alex Odysseos, Head of Capital Formation at Bregal Milestone, added: “We are grateful for the confidence shown by both existing and new investors. The breadth of support across Europe, North America, South America and Asia reflects growing recognition of Milestone’s differentiated investment strategy and its proven ability to consistently return capital to investors. This close marks a meaningful step forward for Milestone, and we are excited to continue building on this momentum.”

Fund III attracted commitments from insurers, public and corporate pension plans, international asset managers and other institutional investors across four continents.

Evercore Private Funds Group served as global placement agent, and Goodwin Procter served as legal counsel to Bregal Milestone.

About Bregal Milestone

Bregal Milestone is a leading software private equity firm with c.€2.3 billion of capital raised since inception. The firm provides growth capital and operational support to build market-leading companies in B2B software, AI and cybersecurity. Bregal Milestone is part of Bregal Investments, a leading global investment platform with assets under management of over €24 billion. Bregal Milestone was recognized by GrowthCap as one of the Top Private Equity Firms of 2025. For more information, visit www.bregalmilestone.com or follow us on LinkedIn.

 

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