Bain Capital is aiming to raise billions of US dollars for its upcoming Asia fund and a special situations fund in the region, as it looks to support private equity (PE) and credit deals in countries ranging from Japan to India, according to sources familiar with the matter.

Based in Boston, Bain Capital manages over US$185 billion in assets and invests across private equity, credit, and real estate.

The investment firm intends to raise at least US$7 billion for its Bain Capital Asia Fund VI, targeting more than the amount raised for its previous fund, sources told The Business Times, speaking on the condition of anonymity due to the private nature of the matter.

The firm is expected to begin its fundraising efforts at the end of April, the sources added.

In addition, Bain has been raising funds for its Bain Capital Special Situations Asia III since November, with a target of at least US$2.1 billion, according to other sources.

The company is also in discussions with several large asset allocators about separately managed accounts tailored to specific investors, one source noted, adding that the fund anticipates a first closing within the coming weeks.

In Asia, Bain Capital has capitalised on the growing consumer care and healthcare sectors in China and is now expanding its presence in Japan and India.

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