Bregal names CEO as part of planned transition, Soros-spinout Newlight Partners eyes hefty ambition for debut fund

Bregal taps Carrier as new CEO and Oceansound launches debut fund.

Morning!

Big news out of Bregal Investments: the firm announced the appointment of CPPIB executive Alain Carrier as chief executive officer, effective Jan. 1. Carrier will succeed co-CEOs Steve Black and Quentin Van Doosselaere, who are leaving at year-end as part of a planned retirement.

Carrier will join Bregal in mid-November to help in the leadership transition, the firm said in a statement.

Carrier worked at CPPIB as senior managing director and head of international since 2016, responsible for the Canadian system’s international markets and offices, including in Europe, Asia and the Americas. He also oversaw the establishment of CPPIB’s London office. Read more here.

Newbie: Oceansound Partners, formed in 2018, made a strategic investment in RMA Group of Companies, which provides tech-enabled laboratory testing, inspection and quality management services for critical infrastructure end markets.

RMA’s management team, led by president and CEO Ed Lyon, retained a significant ownership stake in the company, and will continue in their leadership roles going forward. Read more here.

Oceansound has been raising its debut fund, targeting $550 million. It’s not clear if the fundraising has closed. The fund’s gross asset value was at about $262 million as of March, according to the firm’s Form ADV.

Single: BlackRock led a process to move Flagship Food Group out of an older CREO Capital Partners fund and into a continuation pool for more time and capital to grow the company. Other investors in the deal include Capital Dynamics, Committed Advisors, PineBridge Investments and Kline Hill Partners.

Flagship makes, sells and distributes food products under various brands, including 505 Southwestern, Lilly B’s, Hatch Kitchen and Mapa Lupe’s. The single-asset process will allow the company to grow through further acquisitions, expand the company’s facilities and build up marketing and innovation efforts. Read more here.

That’s it for me! Have a great rest of the day. Reach me with tips n’ gossip, feedback or whatever else at cwitkowsky@buyoutsinsider.com or find me on LinkedIn.