New Delhi, May 18 -- Bulge-bracket private equity firm Bain Capital today announced the final close of its sixth pan-Asian fund, well surpassing its $7 billion target, to raise $10.5 billion (approximately Rs 1.01 lakh crore).
Approximately $9.1 billion of the total corpus comprised external commitments. Bain Capital Partners, employees and related entities committed the balance of capital, forming the single largest collective investor in the fund.
A statement issued by the firm noted that the fundraise "underscores strong investor confidence" in the platform.
The private equity firm has invested in over 1,150 companies globally over the last 41 years, across various sectors, has approximately $225 billion in assets under management.
In Asia, Bain Capital's platform has invested in nearly 200 companies in Japan, India, China, Australia and Korea, in technology, industrials, consumer, healthcare, and business and financial services sectors. In India, the firm had invested in Axis Bank, L&T Finance and 360 One Wealth & Asset Management, among others.
"We continue to see significant opportunity across the region, and we are investing in our people, our technology, and the broader capabilities of the platform," said Yuji Sugimoto, partner and head of Asia Private Equity at Bain Capital.
On the strategies the firm may undertake, Bain Capital said its Asia platform is "well positioned" to incorporate corporate carve-outs, founder transitions, industry consolidation, domestic restructuring and cross-border growth opportunities, among others, the statement said.
"Asia Fund VI further strengthens Bain Capital's ability to pursue these opportunities across the region and continue partnering with businesses through growth, transformation, and long-term value creation," the firm said.
The PE firm had previously seen a couple of modest exits in 2024, when it logged out of the country's third-largest private-sector lender, Axis Bank, and wrapped up its journey with L&T Finance Holdings, but it logged blockbuster returns from another portfolio in the BFSI sector when it hit the sell button on 360 One WAM Ltd (previously IIFL Wealth Management).
Several global investment firms have recently raised funds for an Asian investment vehicle. According to media reports, some of these include Sweden's EQT's Asia-focused buyout fund, Blackstone's third Asia private equity fund and KKR's ongoing fifth Asia private equity fund.
Published by HT Digital Content Services with permission from VC Circle.