Fifth fund for the win! Bain Capital just completed the final close of their latest private equity (PE) fund at $7.1B. 

• According to data from Preqin, this is Asia’s largest PE fund raised this year. 
• The fund had an initial target of $5B.

Who cashed in? Bain Capital committed $750M to the fund along with existing and new investors. 

• They closed their previous Asia PE fund at $4.65B in 2018.

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🌸 Eyes on Asia

According to David Gross, Bain Capital's Asia Managing Partner, they’ll be focusing their investments in Japan.

• He adds that he sees some opportunities in service businesses for healthcare, information and entertainment sectors, software companies, and consumer sectors especially in Japan and India.
• Speaking of Japan, the firm has led 26 investments in the country, totaling more than $6.7B. 

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🇨🇳 China still gets the money

While most investors are shying away from China (you can blame geopolitical tensions), Gross said that the firm is still active in the country. 

• He believes there are still “compelling opportunities” for firms to invest in China as long as companies are thoughtful about which sectors they’re supporting. 
• So far, he sees economic growth in some areas like data centers and renewable energy, which are segments that are mostly not affected by political factors.

In August this year, Bain Capital struck a deal to make data center provider Chinadata Group go private for $3.16B.

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💰 More on Bain Capital

They’re a US-based firm that specializes in private equity, venture capital, credit, public equity, impact investing, and real estate.

• Bain Capital has over $180B global assets under management. 

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Their SEA footprint. Don’t feel so left out, SEA friends. Bain Capital recently injected at least $200M in equity capital into Vietnamese conglomerate, Masan Group. It was their first investment in the country.