Bain Capital is reportedly set to become the latest private equity major to take the plunge into Latin America through a dedicated regional fund.
The firm is considering raising a continental vehicle within three to five years according to Reuters, which quoted Bain Capital managing director Stephen Pagliuca, pictured.
He said no size had been decided for the vehicle, although added that the firm tries to keep such funds quite small to be selective, with its first Europe and Asia vehicles both tipping the needle at $500m.
He said, “I think after we do a couple of more investments, we may look down the road at doing a specific regional fund in the next three to five years”, adding, “We take a kind of a toe-in-the-water approach and we expand from there. I think that our toe in the water in this region has been Atento”.
Bain agreed a deal for Spanish mobile phone giant Telefonica’s call centre division Atento in October last year, which gave the asset an enterprise value of about €1bn.
Pagliuca said the firm intended to target business sectors such as healthcare and insurance in which it already has expertise through its US investments.
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