Bain Capital LLC has raised over $2 billion for a new fund to invest in opportunities across industries, asset types and countries in Asia-Pacific.
The fund, known as Bain Capital Special Situations Asia Fund II, was closed with total capital commitments of more than $2 billion, exceeding the original target of $1.5 billion, Bain Capital said in a statement on Tuesday.
The private investment company added that its fundraising received strong support from institutional investors from around the world, including pension and sovereign wealth funds.
The fund will focus on a flexible investment approach across industries and asset classes, but the largest focus area is real estate, Bain said.
It will be managed by Bain Capital’s Asia Special Situations team, which has offices in Greater China, India, Japan, Korea, Southeast Asia and Australia and is now investing more than $1 billion a year.
“Today’s dynamic and diverse Asia-Pacific markets require an investor who can match local relationships with a deep global platform and expertise across a range of complex investment structures. We leverage these qualities to develop flexible investment solutions across market cycles,” said Barnaby Lyons, Hong Kong-based managing director and global co-head of Bain Capital Special Situations.