Bain Capital is seeking to raise at least $7bn for its sixth Asia-focused private equity fund, marking one of the largest regional fundraising efforts in recent months.

The firm plans to launch the vehicle by the end of April 2025, according to sources close to the matter.

In parallel, Bain is also progressing on a $2.1bn target for its Bain Capital Special Situations Asia III fund, which began fundraising in November. A first close is expected within weeks. The firm is also in talks with major allocators to establish separately managed accounts tailored to specific investor mandates.

With more than $185bn in assets under management, Bain continues to back high-growth sectors across Asia. In India, it has supported Emcure Pharmaceuticals and Citiustech Healthcare Technology. In Japan, the firm recently acquired a 60% stake in York Holdings, a retail unit of Seven & i Holdings, and also agreed to acquire Mitsubishi Tanabe Pharma.

The move comes despite a sharp slowdown in regional fundraising. According to Preqin data, private equity capital raised in Asia fell from nearly $187bn in 2021 to just $50bn in 2024. However, top-tier firms continue to attract capital. Stockholm-based EQT is currently targeting $12.5bn for its next Asia fund, which could be one of the largest ever raised for the region.

The market remains cautious amid economic uncertainty and unpredictable trade policies under former President Donald Trump. Nevertheless, Bain’s latest fundraise highlights the resilience of well-established platforms in securing capital for Asia-focused strategies.

Source: The Business Times