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Bain Capital sets sights on Asia with relocation of managing director

28 Apr 2010

US buy-out house Bain Capital has relocated a founding member of its European team to Hong Kong, a spokesman has confirmed, as western private equity firms continue to set their sights on Asia and less traditional markets.

Managing director Walid Sarkis moved to join the firm’s business in the region ahead of a reported new fundraising that Bain Capital hopes will trump its previous $1bn Asia-focused vehicle, raised in 2007.

Dwight Poler and Steven Barnes currently co-head the European office.

Sarkis joined Bain Capital in Boston in 1997 and has been a managing director since 2002. Prior to joining the private equity house, he was a consultant with the Boston Consulting Group in France where he provided advice to companies in the consumer products and industrial goods sectors.

A mounting buzz surrounds Asia, and China in particular. Carlyle earlier this month closed its third fund dedicated to the continent, with over $2.5bn in investor commitments. Origo Partners just last week signed a memorandum of understanding with the municipal government of Xinxiang over the establishment of a private equity fund that will put money in China’s cleantech sector.

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