Bain Capital, an American alternative asset management and financial services company based in Boston, Massachusetts, has raised $7.3 billion for its latest buyout fund.
Bain raised $6.5 billion from outside investors, more than the $6 billion it was originally targeting but less than the $7.5 billion cap it set when it started marketing the fund more than a year and a half ago, the people said.
Bain employees committed another $800 million to the fund, dubbed Bain Capital Fund XI, bringing its final size to $7.3 billion, the sources said. Bain’s previous flagship fund, Fund X, raised $10.7 billion in 2008.
Bain declined to comment.
The completion of fundraising by Bain is referred to in the private equity industry as “final close.” Private equity funds reached final close on an aggregate $95 billion in the first quarter of 2014, the largest amount of capital raised since the first quarter of 2008, according to market research firm Preqin.
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