Global private equity major Bain Capital is said to be targeting at least $7 billion for its next Asia-focused buyout vehicle, according to a Bloomberg report on Friday (April 11) that cited sources familiar with the matter.
The plan is to raise at least $7 billion for its Bain Capital Asia Fund VI and another $2.1 billion for Bain Capital Special Situations Asia III, which has been in the market since November, according to the report.
The US investment firm that manages over $185 billion globally, plans to launch fundraising for the sixth flagship Asia PE fund by the end of April. The target surpasses the amount raised for its predecessor fund, which closed at around $6 billion in 2023.
The planned fundraising comes as Southeast Asia’s PE scene is entering choppier waters as the turbulence caused by Trump’s tariffs injects fresh volatility into global markets.
The region witnessed a rebound in new PE dealmaking in 2024, which reached $15 billion in value, per the Southeast Asia Private Equity 2024 in Review report released by Bain & Company. This marked a 67% year-on-year increase from $9 billion in 2023, driven by major infrastructure investments like KKR’s transaction in ST Telemedia Data Centres and BlackRock’s deal in Ditrolic Energy.
Private equity firms typically launch successor funds within two to three years of closing a prior vehicle. After the five-year investment period ends, the typical 2% fee on committed capital often decreases to about 0.5% and is charged only on invested capital.
In February, Bain Capital was in the final stages of negotiations with the promoters of Kerala-based Mannapuram Finance to buy a controlling stake in the gold loan provider.
The deal will be a combination of fresh capital infusion by Bain and a secondary share sale by the promoters that will increase the private equity investor’s shareholding in the company to 46%.
Sarit Chopra, Partner and Head of Special Situations, Asia, at Bain Capital, said the firm is exploring new investment opportunities in Indonesia beyond the healthcare sector.
Bain is evaluating opportunities in infrastructure, fintech, logistics, and consumer goods, Chopra told DealStreetAsia in an earlier interview.
