Bain Capital in talks for dedicated Japan buyout fund – report


Global private equity major Bain Capital is reportedly in talks with investors to raise its first buyout fund dedicated to the Japanese market.

Bain plans to target mid-sized Japanese businesses through the vehicle according to Bloomberg, which cited unnamed sources it said had knowledge of the matter.

The news comes in the wake of a pair of hefty Japanese deals from the firm, which led a consortium in the $18bn buyout of Toshiba’s memory chip business last May and sealed the $1.4bn buyout of advertising business Asatsu-DK in December.

Bain’s recent Japan activity has been powered by its latest Asia fund, which hit a $4.65bn final close towards the end of last year.

Other Japanese deals done by the firm include buyouts of mushroom supplier Yukiguni Maitake and wind farm business Japan Wind Development.

Few private equity majors have dedicated Japanese funds – the exception being Carlyle, which is understood to be out eyeing up to $1.8bn for its fourth fund targeting the country.

Carlyle closed its third Japan Partners vehicle on JPY119.5 ($1.1bn) in 2015.

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