Bain Capital has held a final closing of its latest fund, Bain Capital Fund XI (Fund 11), with $7.3 billion of capital commitments. The final close is above the original target of $6 billion but less than the hard cap of $7.5 billion. Bain’s previous fund, Fund X, raised $10.7 billion in 2008.
Bain received capital commitments totaling $6.5 billion from third party limited partners and $800 million of capital commitments from Bain related investors.
Bain Capital manages several pools of capital, including private equity, venture capital, and public equity and leveraged debt assets. The firm has more than $75 billion in assets under management. Since its inception in 1984, Bain Capital has made private equity investments and add-on acquisitions in more than 450 companies in a variety of industries around the world. The firm has offices in Boston, New York, Chicago, London, Munich, Tokyo, Shanghai, Hong Kong and Mumbai (www.baincapital.com).
As with earlier funds, Fund 11 will invest primarily in North American based companies operating in a wide variety of industries.
In March 2014, Bain Capital acquired Bob’s Discount Furniture, a retailer of furniture and bedding and a portfolio company of Karp Reilly. Bob’s Discount Furniture sells home furnishings, including living room furniture, bedroom furniture, dining room furniture, mattresses/foundations and other home accents through 47 stores located throughout the Northeast and Mid-Atlantic states. The company was founded in 1991 and is headquartered in Manchester, CT (www.mybobs.com).
© 2014 PEPD • Private Equity’s Leading News Magazine • 4-17-14