Pantheon co-leads €811M continuation fund for Bregal's two portfolio firms

Pantheon has co-led an €811 million multi-asset continuation vehicle for Bregal Unternehmerkapital. The vehicle will fund the next stage of expansion for two of the firm's portfolio companies.

The first is Safety21, a European GovTech platform focused on road safety and smart mobility. The second is Onlineprinters, an e-commerce printing business.

The deal reflects growing appetite for complex GP-led secondaries in Europe, where firms increasingly use continuation vehicles to hold onto assets and back further growth rather than sell.