Bain Raising $3bn for New Asia Private Equity Fund

Famed private equity company Bain Capital plans to begin raising funds for a third Asian fund as deals in the region surge.

Co-founded by former U.S. presidential candidate Mitt Romney, Bain is reportedly targeting $2.5 billion to $3 billion for the size of the new fund, according to media reports. Further details were not available.

Industry data shows that private equity deals with Asian-based targets rose 68% in 2014, to $41.6 billion, compared to a 16% increase in the U.S. and am 8.6% decline in Europe.

Bain’s second Asia fund attracted $2.3 billion in capital when it was raised in 2012. Overall, the firm oversees $80 billion in capital invested across private equity, venture and credit markets.

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