Bain Capital Raises Third European Fund

Bain Capital has closed its third European buyout fund with €3.5 billion in capital commitments, peHUB has learned. The fund had been marketed with a €2.5 billion target, and closed out at a hard cap that was more than triple the €1 billion Bain raised in 2005 for its second European fund.

Bain Capital has 17 investment professionals working in Europe, out of both its London headquarters and Munich satellite office.

Recent deals include UK food distributor Brakes PLC, German yacht builder Bavaria Yachtbau and the semiconductor division of Royal Philips Electronics. It also had a strong exit, by selling Dutch coatings company SigmaKalon Group to PPG Industries for around €2.2 billion. Bain had acquired SigmaKalon for just €1 billion in 2003 (when Euros were worth much less).

In other Bain fundraising news, the Boston-based firm recently closed its tenth U.S. buyout fund with $15 billion (including a $5 billion co-investment fund). It also is in the midst of raising its fourth “credit opportunities” fund for affiliate Sankaty Advisors.