A reporter raises his hand to ask a question during a news conference by Bain Capital. The company has $105bn of assets under management, according to its website. Reuters
A reporter raises his hand to ask a question during a news conference by Bain Capital. The company has $105bn of assets under management, according to its website. Reuters
A reporter raises his hand to ask a question during a news conference by Bain Capital. The company has $105bn of assets under management, according to its website. Reuters
A reporter raises his hand to ask a question during a news conference by Bain Capital. The company has $105bn of assets under management, according to its website. Reuters

Banking

Bain Capital looking for $5bn-$7bn for new equities fund

Private equity firm has stuck with hedge fund strategy even as competitors have left the business

Bloomberg

January 09, 2020

  • English
  • Arabic

Bain Capital is looking to raise as much as $7 billion for a new equities fund, according to people familiar with the matter, the latest move by an alternative asset manager to broaden its investment offerings.

Josh Ross, who started running the Boston-based firm’s public equities group in 2017, is overseeing the new fund along with the firm’s $1.3 billion global hedge fund, said the people, who asked not to be identified because the information is private.

A Bain representative declined to comment.

Private equity firms including Bain are becoming one-stop shops, offering bets in real estate, credit, and technology. They’re creating more options for institutional investors such as endowments and pension funds, which have been pouring money into the industry and seeking longer-term investments that still produce double-digit annual returns.

While firms like Carlyle Group, Apollo Global Management and Blackstone Group have scaled back or left the hedge fund business, Bain has stuck with it — last year its global partners fund rose 17 per cent, according to documents seen by Bloomberg.

Bain, which oversees about $105 billion across various asset classes according to its website, is seeking to raise $5 billion to $7 billion for the new public equities vehicle over the long term, the people familiar with the matter said.

Other smaller private equity firms are already making long-only bets. Advent International set up Sunley House in 2014 to focus on public investments, while Berkshire Partners started Stockbridge Investors in 2007. That business has more than $2.5 billion of assets, according to the company’s website.

MATCH INFO

Barcelona 2
Suarez (10'), Messi (52')

Real Madrid 2
Ronaldo (14'), Bale (72')

Specs

Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request

The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

Dhadak 2

Director: Shazia Iqbal

Starring: Siddhant Chaturvedi, Triptii Dimri 

Rating: 1/5

Sunday:
GP3 race: 12:10pm
Formula 2 race: 1:35pm
Formula 1 race: 5:10pm
Performance: Guns N' Roses

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

Read part one: how cars came to the UAE

Secret Nation: The Hidden Armenians of Turkey
Avedis Hadjian, (IB Tauris)
 

The specs

A4 35 TFSI

Engine: 2.0-litre, four-cylinder

Transmission: seven-speed S-tronic automatic

Power: 150bhp

Torque: 270Nm

Price: Dh150,000 (estimate)

On sale: First Q 2020

A4 S4 TDI

Engine: 3.0-litre V6 turbo diesel

Transmission: eight-speed PDK automatic

Power: 350bhp

Torque: 700Nm

Price: Dh165,000 (estimate)

On sale: First Q 2020

MEFCC information

Tickets range from Dh110 for an advance single-day pass to Dh300 for a weekend pass at the door. VIP tickets have sold out. Visit www.mefcc.com to purchase tickets in advance.

Plastic tipping point
Defending champions

World Series: South Africa
Women’s World Series: Australia
Gulf Men’s League: Dubai Exiles
Gulf Men’s Social: Mediclinic Barrelhouse Warriors
Gulf Vets: Jebel Ali Dragons Veterans
Gulf Women: Dubai Sports City Eagles
Gulf Under 19: British School Al Khubairat
Gulf Under 19 Girls: Dubai Exiles
UAE National Schools: Al Safa School
International Invitational: Speranza 22
International Vets: Joining Jack

Other workplace saving schemes
  • The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
  • Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
  • National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
  • In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
  • Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.