Bain Capital was able to raise about USD5 billion for its eleventh buyout fund. It was the first one established since the 2008 financial crisis, as reported by one possible investor in the fund.
Established with 2012 Republican candidate for President Mitt Romney, Bain Capital intends to reach its objective of USD6 billion for Bain Capital Fund XI by year's end. Romney left Bain Capital in 1999 to embark on his political career as Massachusetts governor.
Bain Capital drew commitments of nearly USD4 billion from its limited partners and is planning to invest about USD800 million of its own capital in the fund for about USD4.8 billion for the core buyout fund.
Normally, Bain Capital had invested 10% of its own funds in the past funds. The hedge fund firm's previous fund, Bain Capital X had a USD10 billion target for the main fund and USD5 billion for co-investments. In a regulatory filing, the fund was said to have raised USD2.3 billion.
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