In An Asia's Largest of 2023, Bain Capital Closes 5th Pan-Asia PE Fund At $7.1 Bn, Exceeds Target by 40%

Boston-based private investment firm, Bain Capital, has completed the final close of its 5th pan-Asia private equity fund (Bain Capital Asia Fund V) at $7.1 billion, exceeding its target by 40%, reported news agency Reuters.

With an initial target of $5 billion, Bain Capital started fundraising for 5th Fund in the second half of last year.

At $7.1 Billion, the fund is Bain Capital's biggest to date for Asia and also the region's largest private equity fund raised this year, according to Preqin data.

The investment firm itself committed $750 million to this latest fund. Japan will be the focus area of the latest fund.

David Gross, Bain Capital's Asia managing partner, told Reuters that he sees investment opportunities in service businesses for healthcare, information and entertainment sectors, software companies and consumer sectors especially in Japan and India.

This comes within a month after Bain Capital and Smith Hill Capital, an affiliate of Procaccianti Companies, formed a joint venture to launch a private lending platform with the objective of deploying $1 billion of gross capital over the next several years.

Asia-focused fundraising totalled $73 billion so far this year, nearly half of 2022's annual amount and less than a third of the $299 billion raised in 2021, said the Reuters report on the basis of Preqin data.

In June this year, Bain Capital was ranked 13th in Private Equity International's PEI 300 ranking of the largest private equity firms in the world.

Bain Capital's businesses include private equity, venture capital, public equity, and credit.


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