Bain launches second Asia fund, remains focused on Japan
Bain Capital launched its second Asia fund on Tuesday, with Japan remaining the key focus despite the economic fallout from the earthquake, tsunami and subsequent nuclear crisis. However, deals will also be sourced in China and India.
The private equity firm has set a fundraising target higher than the $1 billion raised for its previous fund.
Shintaro Hori, chairman of Bain Capital Japan, told Reuters that the fund will seek to link up with Japanese corporate pursuing overseas acquisitions worth more than JPY100 billion ($1.25 billion). This strategy is in keeping with many Japanese firms' plans to expand overseas as domestic markets reach saturation point.
Bain already has around seven such deals in the pipeline, which will see Japanese firms complete buyouts of food producers in Southeast Asia, Europe and China, a European auto parts manufacturer, and a US insurance company.
Hori added that Bain will also continue investing in Japan, where company valuations have been boosted through the involvement of private equity firms.
Most recently, Bain has been linked to the potential acquisition of Skylark, a Japanese restaurant chain operator currently owned by Nomura Principal Finance.
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