Bain Capital sets sights on $4B Asia fund

With rivals like KKR and The Carlyle Group raising massive new funds in Asia, Bain Capital has no plans of being left behind. The Boston-based firm has set a $4 billion target for its fourth fund focused on the region, according to Reuters, the follow-up to a vehicle that raised around $3 billion in 2015.

Last year's PE fundraising boom in the US continues to make its way across the Pacific Ocean. KKR closed a $9.3 billion Asia fund last June, while Carlyle reportedly held a first close on $4.5 billion for its latest Asia vehicle about six months ago. Baring Private Equity Asia is said to be raising a new $6 billion fund to invest in the region, and other industry heavyweights like Blackstone and EQT are also reportedly seeking new cash.

Related read: Europe surpasses the US in PE fundraising

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