Bain Capital pulls over $2bn for Asia-focused fund

Bain Capital LLC has raised more than $2 billion for a new fund that will invest in Asia-Pacific opportunities across businesses, asset classes, and nations.

Bain Capital Special Situations Asia Fund II was completed with total capital commitments of more than $2 billion, exceeding the fund’s initial target of $1.5 billion, according to a statement released on Tuesday by Bain Capital.

The private investment firm went on to say that institutional investors from all across the world, including pension and sovereign wealth funds, backed its fundraising efforts. The fund would take a flexible approach to investing across industries and asset classes, with real estate being the primary focus, according to Bain.

It will be managed by Bain Capital’s Asia Special Situations division, which has offices in Greater China, India, Japan, Korea, Southeast Asia, and Australia and manages more than $1 billion in annual investments.