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Bain Capital targeting $5bn for new Asia-Pac buyout fund

Bain Capital is targeting $5 billion capital commitments for a new buyout fund focused on the Asia-Pacific region, according to a report by Bloomberg.

Bain Capital is targeting $5 billion capital commitments for a new buyout fund focused on the Asia-Pacific region, according to a report by Bloomberg.

The report cites unmans sources as confirming that marketing for what is Bain Capital’s fifth Asia fund began in July, with a first close planned for December and final completion in the first quarter of 2023. The fund reportedly has the remit to grow to $6 billion, excluding senior management contributions. 

The fund’s target is 25% bigger than its predecessor fund but still only about half the size of recent Asia-focused funds from rivals KKR & Co and Blackstone Inc. The unnamed sources say that the smaller target is an attempt to balance management fees with finding investments that can be exited later to generate improved returns.

Bain Capital generally contributes 10% to 15% of its own capital in each of its funds, more than most of its rivals, which its previous Asia funds have produced net returns of 20% to 25%.

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