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☆ Bain Capital raises $7.1 bln in largest pan-Asia PE fund this year
▼ + stars: | 2023-11-21 | by ( Kane Wu | ) www.reuters.com time to read: +4 min

The logo of Bain Capital is displayed on the screen during a news conference in Tokyo, Japan October 5, 2017. Bain Capital said the firm itself committed $750 million to Bain Capital Asia Fund V, alongside existing and new investors. At $7.1 billion, the fund is Bain Capital's biggest to date for Asia and also the region's largest private equity fund raised this year, according to Preqin data. Bain Capital, which started fundraising in the second half of 2022, had an initial target of $5 billion. Bain Capital invests across multiple asset classes, including credit, public equity, venture capital and real estate, managing approximately $180 billion in total assets globally.

Persons: Kim Kyung, you've, David Gross, Gross, Toshiba Corp's, Bain, Kane Wu, Jacqueline Wong Organizations: Bain Capital, REUTERS, Bain Capital Asia Fund V, Bain Capital's, Bain, ., Toshiba, Chindata, Estia, Intelligence, Thomson Locations: Tokyo, Japan, HONG KONG, Asia, U.S, Bain Capital's Asia, . Asia, China, India

The logo of Toshiba Corporation is displayed at the company's building in Kawasaki, Japan, April 5, 2023. The top two deals this year, Toshiba Corp (6502.T) and JSR Corp (4185.T), had activists on their rosters. The strong M&A market comes as two long-standing obstacles to Japanese dealmaking - reluctance towards unsolicited takeovers and difficulties in cutting overlapping jobs in post merger integrations - may be fading. "Previously, excess employment issues held back M&A, because cutting overlapping headcount is the primary way M&A cuts costs and raises returns," Smith said. "As the labour shortage bites, expect M&A to surge as companies start being targeted as labour reservoirs."

Persons: Androniki, LSEG, David Gross, Loh, Jim Verbeeten, Shinsuke Tsunoda, " Bain Capital's Gross, Nicholas Smith, Smith, Makiko Yamazaki, Kane Wu, Sumeet Chatterjee, Stephen Coates Organizations: Toshiba Corporation, REUTERS, Toshiba, Bain Capital Asia, Bankers, Tokyo bourse, Toshiba Corp, JSR, Bain & Company, Nomura Securities, Marelli Holdings, KKR, Nidec Corp, Thomson Locations: Kawasaki, Japan, TOKYO, HONG KONG, Tokyo

☆ Indian financial services are a 'major focus' for Bain Capital in Asia
▼ + stars: | 2023-08-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndian financial services are a 'major focus' for Bain Capital in AsiaBarnaby Lyons, a partner and global co-head at Bain Capital Special Situations, discusses Bain Capital's plan to buy a 90% stake in India's Adani Capital and Adani Housing.

Persons: Asia Barnaby Lyons, Bain Organizations: Bain Capital, Adani Locations: Asia

Logo of Bain Capital is screened at a news conference in Tokyo, Japan September 28, 2017. Shares of Estia Health were up 9.9% at A$3.12 as of 0045 GMT, their highest since Sept 2018. Bain Capital did not immediately respond to a Reuters request for comment. In June, the company updated the market on its intentions to back Bain Capital's increased offer of $A3 per share to A$3.20. "If they acquire Estia Health they may be stuck with it in the days ahead."

Persons: Kim Kyung, Estia, Bain Capital's, Gary Weiss, Estia's, Brad Smoling, Smoling, Rishav Chatterjee, Scott Murdoch, Sherry Jacob, Phillips, Stephen Coates Organizations: Bain Capital, REUTERS, Global, Estia, Bain, Virgin Australia, Australia, Health, Thomson Locations: Tokyo, Japan, Sydney, Australia, Bengaluru

☆ Startup studio Fractal created 130 companies in 3 years. Founders say the deal structure has led VCs to 'blacklist' them.
▼ + stars: | 2023-06-29 | by ( Melia Russell | Stephanie Palazzolo | ) www.businessinsider.com time to read: +19 min

www.fractalsoftware.comOf the dozens of Fractal startups that have raised a seed round of funding, about half had Bienville Capital lead the deal, according to people familiar with the matter. Others say they knew what they were getting into with a venture studio, where a large ownership position is standard. Brendan Smialowski/AFP via Getty ImagesThe biggest draw for some Fractal founders was its plug-and-play approach. The founder of one Fractal startup remembered a time when his company was struggling to grow its customer base. That firm is raising a new $325 million fund to provide additional funding to Fractal companies exclusively, according to a person familiar with the effort.

Persons: Fractal's, he'd, they'd, Andreessen Horowitz, Mike Furlong, Nate Baker, Bienville, —, Brendan Smialowski, Founders, Angela Lee, Furlong, Baker, Ezra Shaw, who'd, who's, It's, Lee, She's, 8VC, Bain, Jeff Greenberg, Omri Bloch, who've, didn't, Stephanie Palazzolo, Melia Russell Organizations: Flatiron Health, Bienville, Insight Partners, Bienville Capital, Getty, Columbia Business School, Alpha, Midwest, Science, Olympic Club, Tiger Global, Craft Ventures, Founders, Vertical Venture Partners, Zag, Crew Capital, Bain Capital, Universal, Foundation, Fifth Locations: Bienville Capital, New York, Bienville, Indio, AFP, Santa Monica , California, Miami, San Francisco, GreenSpark, Columbia, Barti, Aktos, Bessemer, 8VC

☆ Intel to sell 20% stake in Austrian chip company
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +1 min

June 21 (Reuters) - Intel (INTC.O) said on Wednesday it would sell one-fifth of its stake in IMS Nanofabrication to private equity firm Bain Capital in a deal valuing the Austrian producer of chipmaking tools at about $4.3 billion. Intel's stake sale of 20% was valued at $860 million, according to Reuters calculations. IMS, which was acquired by Intel in 2015, makes equipment that are critical for companies that make chips. It has delivered a significant return on investment to Intel while growing its workforce and production capacity by four times, Intel said. Bain Capital's investment in IMS will put it in a position to capture significant market share for its tools that are being widely adopted by chipmakers, Intel said.

Persons: Bain, Akash Sriram, Chavi Mehta, Sriraj Kalluvila Organizations: Intel, IMS, Bain Capital, chipmakers, Thomson Locations: Austrian, Bengaluru

☆ Bain Capital values Chindata at nearly $3 bln in take-private offer
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

Bain Capital's proposal values each American depositary share of Chindata at $8, representing a premium of more than 27% to its last closing price. The private equity firm already owns a 42.2% stake in Chindata, according to Bain Capital. Data centers and cloud services have seen increased demand due to the widespread adoption of AI technologies. However, analysts expect enterprise customers to optimize their expenditure on cloud services. Chindata's services include designing and operating data centers in China, India and Southeast Asia.

Persons: Bain, Akash Sriram, Shounak Dasgupta Organizations: Chindata, Bain Capital, Bain Capital ., Thomson Locations: Chindata, China, India, Southeast Asia, Bengaluru

In 2020, Bain Capital set up a previous global fund after securing $3.2 billion in commitments. The program was previously called Bain Capital Distressed and Special Situations Fund and used to sit within Bain Capital's credit business. Bain Capital's special situations strategy is now a standalone business, after being carved out with an independent team outside the umbrella of the credit unit. Globally, Bain Capital currently has $16 billion of assets under management as part of its special situations strategy. Last year, Bain Capital closed a $2 billion "special situations fund" for Asia Pacific to cover a range of asset types, which included a focus on real estate.

☆ Exclusive: Bain Capital nearing final close of Asia fund worth $6 billion - sources
▼ + stars: | 2023-05-05 | by ( Kane Wu | ) www.reuters.com time to read: +3 min

The committed capital to the fund has exceeded the firm's initial target of $5 billion, said one of the two people and a third source with knowledge of the fundraising. Bain Capital declined to comment. About $131.6 billion in total was raised in 2022 for Asia-focused funds, about half of 2021's $251.2 billion, Preqin data showed. Fundraising so far this year has totalled just $15.5 billion, the data showed. Last year, Bain Capital closed a $2 billion "special situations fund" for Asia Pacific to cover a range of asset types but with a focus on real estate.

☆ Cheap money has been an 'anomaly' for past 12 years, says Bain Capital's Steve Pagliuca
▼ + stars: | 2023-02-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCheap money has been an 'anomaly' for past 12 years, says Bain Capital's Steve PagliucaSteve Pagliuca, Bain Capital senior advisor, and co-owner of the Boston Celtics, joins 'Squawk Box' to discuss dollar values normalizing, the strategic onshoring of US manufacturing, and the carbon transition.

☆ Debt ceiling 'game of chicken' will terrify markets -Bain Capital's Lavine
▼ + stars: | 2023-01-24 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

LONDON, Jan 24 (Reuters) - If the U.S. Congress becomes mired in an argument on whether to raise the debt ceiling, this will hurt the U.S. economy and rattle financial markets, a top executive at private equity firm Bain Capital said on Tuesday. "The debt ceiling is a real risk that will come to a point where it will terrify markets, because it is a wild game of chicken," Jonathan Lavine, co-managing partner at Bain Capital, which manages $160 billion in assets globally, told an event. House Republicans want to use that critical deadline to force spending cuts, while the White House has said there should be no negotiations over lifting the debt limit. Expectation of a recession has made markets more sensitive to unanticipated risks, Lavine told attendees at a London School of Economics (LSE) conference. Reporting by Nell Mackenzie; additional reporting Jason Lange; editing by Yoruk Bahceli and Susan FentonOur Standards: The Thomson Reuters Trust Principles.

The logo of Toshiba Corp is displayed atop of the company's facility building in Kawasaki, Japan, June 24, 2022. JIP's initial offer was below 6,000 yen per share, the two sources told Reuters, putting the value of a potential tender offer at less than 2.6 trillion yen ($17.5 billion). Investors have considered 6,000 yen to be a key threshold. During a strategic review last year, at least one global private equity firm told Toshiba's review committee that a deal to take the conglomerate private could be done at 6,000 yen a share or more. In Japan, the court-led rehabilitation of auto parts supplier Marelli Holdings Co Ltd - owned by U.S. private equity firm KKR & Co Inc (KKR.N) - has turned banks cautious about terms for financing leveraged buyouts, private equity sources said.

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