Bain Capital raises $11.8 billion for brand new flagship fund By Reuters

© Reuters. The brand of Bain Capital is displayed on the display throughout a information convention in Tokyo By Chibuike Oguh (Reuters) – U.S. non-public fairness agency Bain Capital LP mentioned it has raised $11.8 billion from exterior buyers and workers for its newest flagship North America buyout fund. The fundraising comes amid a rebound



© Reuters. The brand of Bain Capital is displayed on the display throughout a information convention in Tokyo

By Chibuike Oguh

(Reuters) – U.S. non-public fairness agency Bain Capital LP mentioned it has raised $11.8 billion from exterior buyers and workers for its newest flagship North America buyout fund.

The fundraising comes amid a rebound in dealmaking exercise amongst non-public fairness companies because the rollout of COVID-19 vaccines has boosted world financial prospects and markets.

Bain amassed $10 billion from exterior buyers for its thirteenth buyout fund, Bain Capital Fund XIII, exceeding an preliminary $9 billion goal. The agency’s current and former workers additionally dedicated $1.8 billion in further capital to the fund, a Bain spokeswoman mentioned.

Bain’s newest fund will search to spend money on a broad vary of belongings from shopper and healthcare corporations to know-how companies primarily in North America.

“We’ll proceed to seek out attention-grabbing, transformational offers by leveraging our world assets and expertise, our sourcing community, and vertical trade depth,” John Connaughton, co-managing companion at Bain Capital, mentioned in an interview.

The prior Bain Capital Fund XII, which had collected $8 billion from buyers and raised a further $1.4 billion from workers, made investments akin to Virgin Australia airline, industrial agency Imperial Dade, and chipmaker Kioxia Holdings, which was carved out of Japanese conglomerate Toshiba (OTC:) Corp in 2017.

That fund succeeded the Bain Capital Fund XI, which had raised $7.3 billion from buyers and its dealmakers.

Bain Capital Fund XII and Bain Capital Fund XI have generated internet inner price of returns (IRR) of seven.2% and 28.5% respectively as of the top of December, in line with folks accustomed to the matter.

Primarily based in Boston, Bain Capital has greater than $130 billion in belongings underneath administration throughout non-public fairness, credit score, actual property, know-how, life science, and public market holdings.

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