Deals
Bain Is Said to Get $9.4 Billion for New Fund, Above Target
- Employees are said to contribute 15% of North American pool
- Yield-starved investors hand near-record sums to buyout firms
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Bain Capital raised $9.4 billion for its next North American buyout fund in about five months, a person with knowledge of the matter said, the latest private equity firm to reel in more than it sought amid a fundraising spree.
Bain surpassed its $7 billion target and hit its $8 billion hard cap, the maximum amount of outside capital allowed by its agreement with investors, said the person, who asked not to be identified because the details are private. Employees of the Boston-based firm put in $1.4 billion, or 15 percent, the person said -- a bigger contribution than peers that’s typical of Bain’s funds.