By Kane Wu
HONG KONG, March 10 (Reuters) – Bain Capital is close to wrapping up fundraising for its sixth pan-Asia private equity fund after raising about $10.5 billion, two people with knowledge of the matter said Tuesday, well exceeding its $7 billion target.
The firm has bagged $9 billion from fund investors, or the so-called limited partners, and plans to contribute $1.5 billion of its own capital, making the vehicle its largest Asia-focused fund to date, one of the people said.
The sources declined to be named as the information is private.
Bain Capital has separately raised about $2 billion for a buyout fund targeting mid-cap deals in Japan, the sources said.
The Boston-based investment firm declined to comment.Â
Bloomberg first reported the fundraising amounts on Tuesday.
STRONG INVESTOR INTEREST IN ASIAÂ Â
Bain Capital’s smooth fundraising underscores strong investor interest in the Asia region, particularly Japan where the firm has a heavy focus, amid market volatility and geopolitical uncertainties.
It has invested in Japanese businesses for two decades including marquee deals such as the $18 billion buyout of Toshiba Corp’s memory chip business and a $5.5 billion acquisition of York Holdings, the non-core businesses of Seven & i Holdings.
The firm, which raised $7.1 billion in its fifth pan-Asia buyout fund in 2023, also has a strong presence in Greater China and India.
The fundraising adds to a growing list of mega pan-Asia buyout funds raised by global investment firms.
Sweden’s EQT has secured $11.4 billion in commitments for its new Asia-focused buyout fund, with fundraising expected to end before year-end and hit a hard cap of $14.5 billion in 2026, it said in July.
Blackstone has raised over $10 billion for its third Asia private equity fund, which has a $12.5 billion hard cap, sources have said.
KKR has kicked off fundraising for its fifth Asia private equity fund, targeting $15 billion, Reuters reported in November.
(Reporting by Kane Wu; Editing by Bernadette Baum and Chizu Nomiyama )
