Bain Raises 4.35 Billion Euros for Fifth Europe Fund

(Bloomberg) -- Bain Capital has raised 4.35 billion euros ($5.1 billion) for its fifth European buyout fund, surpassing its initial target of 3.5 billion euros, according to people with knowledge of the situation.

The Boston-based firm’s employees and their partners invested about 700 million euros alongside the fund, said the people, who asked to not be identified because the matter isn’t public.

Bain received commitments exceeding its hard-cap of 4.35 billion euros but decided to keep the fund at that size to best ensure strong returns for investors, the people said.

A representative for Bain declined to comment.

Private equity, venture capital, real estate and other alternative investors have raised more than $1 trillion they have yet to invest, according to data compiled by Bloomberg.

Bain, founded in 1984, manages more than $95 billion in private equity, credit, real estate and other assets, according to its website.

It raised about 3.5 billion euros for its fourth European buyout fund in 2014, according to regulatory filings.

Last month, the firm agreed to buy Italian specialty chemicals company Italmatch Chemicals. It also reached a deal to buy DSM Sinochem Pharmaceuticals, a joint venture of Dutch chemicals firm Royal DSM NV and China’s Sinochem Group.

To contact the reporter on this story: Sarah Syed in London at ssyed35@bloomberg.net

To contact the editors responsible for this story: Dinesh Nair at dnair5@bloomberg.net, Matthew Monks, Josh Friedman

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