Bain Capital Concludes its Fifth Pan-Asian PE Fund with $7.1 Billion

Reuters reports that Bain Capital has completed the final close of its fifth pan-Asian private equity fund at $7.1 billion, exceeding its target by 40%, despite a challenging macroeconomic and geopolitical environment that has otherwise hampered fundraising globally. Bain Capital announced a $750 million commitment to the Bain Capital Asia Fund V, alongside existing and new investors.

According to Preqin data, the fund is Bain Capital's largest for Asia to date, and it is also the region's largest private equity fund raised this year. The closing of Bain Capital's fundraising comes as global investors face geopolitical uncertainties, higher interest rates, market volatility, and macroeconomic headwinds in many markets.

"If you have the right track record, a consistent commitment across the region, and the right platform, there is demand," David Gross, Bain Capital's Asia managing partner, said late Nov 20.

According to Preqin data, Asia-focused fundraising has totaled $73 billion this year, nearly half of the annual amount for 2022 and less than a third of the $299 billion raised in 2021. Bain Capital, which began fundraising in the second half of 2022, had a $5 billion initial target.