Bain Capital raises €2bn towards new Europe fund

The fund is believed to have launched at the end of last year with a €2.5bn target, and filed its first close last Friday (11 July).

Bain declined to comment on the fundraising effort.

Bain Capital Europe Fund III, the firm's previous Europe-focused vehicle, had a similar target that was far exceeded, closing on €3.5bn in 2008.

Established in the US, the private equity house set up its European presence in 2000 – it has offices in London and Munich.

Bain Capital Europe has ramped up the investment pace in the past year, starting with the secondary buyout of German hydraulic clutch and brakes provider FTE Automotive from PAI partners in May 2013. Bain went on to acquire French home decorations and furniture retail business Maisons du Monde in a secondary buyout understood to be worth around €650m.

Further deals in 2013 included the purchase of Norwegian state-owned Cermaq's Ewos division for NOK 6.5bn (c€820m) alongside Altor, as well as the acquisition of an 80% stake in government-owned Plasma Resources UK for £230m.

But the largest transaction done by the GP came in March this year, when Bain teamed up with Advent International and ATP to wholly acquire Danish payment solutions provider Nets for DKK 17bn (c€2.3bn).

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• Buyout
• Bain Capital