According to media reports, Bain Capital is seeking to raise USD 4 billion for a new global “special situations fund”. The U.S. firm intends to snap up distressed investments in a broad range of asset classes across the globe.
The investment from, started raising fund in the initial months of the year and has already raised around USD 2 billion for the new fund, the reports added. It is targeting a final close of the fund by the end of the year.
After receiving USD 3.2 billion in commitments, Bain Capital established a prior global fund in 2020. Previously known as the Bain Capital Distressed and Special Situations Fund, the programme was part of Bain Capital’s credit business.
As part of the fresh strategy, Bain Capital is deploying capital with greater flexibility and investing in a variety of asset classes, including equity, distressed assets, loan portfolios, corporate investments, and real estate.
While dealmaking by buyout companies has slowed this year due to the challenging environment, distressed funds have increased fundraising efforts in recent years in anticipation of a downturn after a sustained period of economic expansion.
Bain Capital closed a USD 2 billion “special situations fund” for Asia Pacific last year, covering a variety of asset types with a focus on real estate