Bain Capital has closed its sixth Asia-focused personal fairness fund at $10.5 billion, surpassing its authentic fundraising goal of $7 billion.

The US-based funding agency stated Bain Capital Asia Fund VI included about $9.1 billion in exterior commitments, whereas the remaining capital got here from Bain Capital companions, staff and associated entities, which collectively are the fund’s single largest investor.

The fundraising comes as Bain Capital marks 20 years of investing in Asia, the place its platform spans Japan, India, China, Australia and Korea.

Its Asia platform has almost 200 investment and working professionals centered on sectors together with know-how, industrials, shopper, healthcare, and enterprise and monetary companies, the agency stated.

Commenting on the fundraise, Yuji Sugimoto, associate and head of Asia personal fairness at Bain Capital, stated, “Bain Capital’s personal fairness enterprise has at all times been constructed round serving to firms realise their full potential via operational enchancment, strategic change, and shut partnership with administration groups.”

“Over the previous 20 years, we have now constructed these capabilities into our Asia platform in a method that mixes native perception with the broader strengths of Bain Capital, and that has enabled us to ship robust outcomes for our buyers and associate firms throughout market cycles,” he stated.

“We proceed to see important alternative throughout the area, and we’re investing in our folks, our know-how, and the broader capabilities of the platform so we will preserve scaling in a disciplined method and delivering over the long run,” Sugimoto stated.

Its Asia platform was properly positioned for complicated funding conditions together with company carve-outs, founder transitions, trade consolidation, home restructuring and cross-border development alternatives, Bain Capital stated.

The corporate additionally added that its Asia operations profit from collaboration with different elements of Bain Capital’s world enterprise, together with credit score, insurance coverage, actual property, particular conditions and tech alternatives.

Based in 1984, Bain Capital manages about $225 billion in belongings globally throughout personal fairness, development and enterprise, capital options, credit score and capital markets, and actual belongings.