Bain Capital Holds $557M First Close On Asia Special Situations Fund

Sep 6 2017 | 11:51pm ET

Bain Capital has announced the first close of its latest Asia credit fund, raising $557 million as the company seeks to capitalize on distressed debt opportunities in the region. 

The new fund, named Bain Capital Special Situations Asia LP, has been backed by 38 investors to date, according to a Sept. 5 regulatory filing with the U.S. Securities and Exchange Commission. The firm is reportedly targeting $1 billion for the effort, its first to aim exclusively at distressed debt and direct lending activities in the area. Fundraising for the vehicle began in late February 2017.

Headquartered in Boston and founded in 1984 as a private equity company, Bain Capital manages approximately $75 billion across several asset classes including PE, credit, public equity and venture capital. 

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