February 15, 2024 — Massachusetts members of Congress are demanding an explanation of Bregal Partners’ liquidation of Blue Harvest Fisheries in New Bedford, Mass., in a letter listing how the international investment firm walked away from an estimated $100 million in debts.
The Feb. 12 letter from Sens. Elizabeth Warren, Edward Markey and Rep. William Keating, all D-Mass., presented a list of itemized questions to Charles Yoon, a managing partner at Bregal’s New York City office.
“After years of putting private equity profits ahead of workers and small businesses, Bregal Partners – which owned and stripped Blue Harvest of its assets – owes the community an explanation,” the lawmakers wrote. “Your actions have harmed New England’s fishing industry and left over 1,000 independent contractors, businesses, and other creditors saddled with debt.”