Bain Capital closed its latest Asia buyout fund, Bain Capital Asia Fund IV, with $4.65 billion, exceeding its $3.5 billion fundraising target, according to sources familiar with matter.
Bain Capital Asia Fund IV is 43% larger than its 2015 predecessor fund, the $3.25 billion Bain Capital Asia Fund III. The new fund is expected to invest in middle-market companies primarily based in China, Japan, India and Australia; it also will be able to invest in large-cap companies.
Investors include the $65.7 billion Alaska Permanent Fund Corp., Juneau, and $57 billion Pennsylvania Public School Employees' Retirement System, Harrisburg.
