Bain Capital said to have raised almost $10m for buyout fund
Bain surpassed its $7bn target and hit its $8bn hard cap, the highest amount of outside capital allowed in its deal with investors, a person with knowledge of the matter says
New York — Bain Capital raised $9.4bn for its next North American buyout fund in about five months, a person with knowledge of the matter said, the latest private equity firm to reel in more than it sought amid a fundraising spree. Bain surpassed its $7bn target and hit its $8bn hard cap, the maximum amount of outside capital allowed by its agreement with investors, said the person, who asked not to be identified because the details were private. Employees of the Boston-based firm put in $1.4bn, or 15%, the person said — a bigger contribution than peers that’s typical of Bain’s funds. A spokesperson for Bain declined to comment on fundraising. While the pool, Bain’s 12th for North America, is bigger than its predecessor fund by almost a third, the firm sized it smaller than those managed by peers. TPG, KKR and Carlyle have larger funds for the region, and Apollo Global Management finished gathering $24.7bn in 2017 for the biggest global pool ever managed by a buyout firm. Private eq...
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