Bain Capital Said To Raise $9.4B For Twelfth PE Fund

Sep 14 2017 | 10:03pm ET

Bain Capital has raised $9.4 billion in capital commitments for its twelfth buyout fund, $1.4 billion of which came from the company’s employees. 

The new fund, named Bain Capital Fund XII, easily hit its $7 billion target and closed at its $8 billion hard cap for outside LPs, according to an article in Pensions & Investments citing unidentified individuals familiar with the fund’s closing. 

The fund was in the market for about five months, according to Bloomberg data, and is the first since Bain raised $7.3 billion for its eleventh fund in April 2014. That fund was earning a 30% annualized return after fees as of the end of 2016, Bloomberg said, ranking in the top 25% of such funds. 

No additional details, such as investments already made out of the fund, were immediately available. 

Based in Boston and founded in 1984 by former U.S. presidential candidate and governor of Massachusetts Mitt Romney with partners from consulting firm Bain & Co., Bain Capital is one of Wall Street’s largest remaining closely-held partnerships. The company manages approximately $80 billion across private equity, venture capital, credit and public equity strategies. 

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