Private Equity News & Analysis

Bain Capital to raise Asia fund

Having built up a team of roughly 20 professionals in the region, the Boston-based private equity giant will pursue buyouts across Asia through a dedicated vehicle.

-

Bain Capital will raise a separate fund to pursue private equity opportunities in Asia, according to sources close to the Boston-based firm.

The firm’s senior partners have not yet decided on the timing and target size of the vehicle.

Bain Capital announced its intention to offer an Asia-only vehicle at its annual limited partner meeting this past summer.

Bain Capital will base its Asia fund on the structure of separate European vehicles the firm already offers LPs. Bain Capital currently manages two dedicated European private equity funds, which invest alongside the core vehicle in European deals.

In April, Bain Capital closed its main buyout fund on $8 billion (€6.25 billion), not including a separate $2 billion co-investment vehicle for LPs.

Bain Capital has lately been growing its presence in Asia. Last year the firm launched offices in Tokyo, Shanghai and Hong Kong. The firm now employs roughly 20 professionals across the region.

In April, Bain Capital did its first deal in Asia – the buyout of MEI Conlux from the Japanese arm of Mars candy company. Bain Capital did the deal in conjunction with Japanese buyout firm Advantage Partners.

Recently Bain Capital was reported to be among the bidders for Coles Myer stores in Australia.

Most of the largest private equity firms have opened offices in Asia, and many are pondering launching separate Asia funds, including Kohlberg Kravis Roberts.