Buyout firm Bain Capital close to launch of $6bn fundraising
US PRIVATE equity house Bain Capital is weeks away from kicking off a $6bn (£3.9bn) fundraising.
The buyout firm, co-founded by Mitt Romney, is preparing to begin fundraising for its eleventh fund by the end of June, and will send out a private placement memorandum with the final terms.
It will ask for money from pensions funds and endowments as well as other institutional investors around the world.
It comes after a challenging period for Boston-based Bain, which has come under repeated attack as former chief Romney marched to victory in the US Republican presidential contest.
Bain, however, argues that it has created hundreds of thousands of jobs in its 28-year history,
The firm has also told investors a $2bn co-investment fund will be raised alongside Fund XI, and that access as well as terms that investors get on that fund will be tied to the size of their commitment to the core fund, sources said.
Private equity firms have traditionally used the 2/20 fee structure — charging a two per cent fee to manage the assets and 20 per cent carried interest, but Bain will give investors a series of options.