Bain Capital Closes 3rd Asia-Focused Fund With $3B Raised
Tuesday, December 15, 2015
(Law360 by Benjamin Horney) – Private equity firm Bain Capital LLC has closed a third Asia-focused fund after having raised $3 billion, a person familiar with the matter confirmed on Tuesday, with investments from the fund slated to begin once the calendar turns to 2016.
The Bain Capital Partners Asia III LP fund will direct money toward investments throughout Asia, the person told Law360, though the firm has not disclosed anything publicly, and Bain team members themselves will commit “at least” $250 million in addition to the $3 billion figure.
The confirmation comes after rumors that sprouted on Monday, with numerous reports citing “sources familiar with the matter” as saying that the Asia-focused fund had closed after hitting the $3 billion cap. According to the Wall Street Journal, the fund will look to invest in companies across range of sectors, "from consumer products to financial services."
One of the fund’s investors was the Pennsylvania Public School Employees’ Retirement System, which disclosed in an August website posting that its portfolio adviser recommended an investment of up to $150 million in the fund.
A representative for PPSERS on Tuesday confirmed that the $150 million investment was approved in August.
