Global private equity firm Bain Capital has closed its maiden Japan-focused fund, which will target mid-sized companies, at 110 billion yen ($1 billion), a person with direct knowledge told Reuters on Friday.

Bain, as manager of the fund, committed 10 billion yen to the total capital and will invest an additional 12.5 billion yen alongside the fund, the person said, declining to be identified as the information is not public.

The Boston-based investment firm will use the fund to target growth and buyout deals in the world’s third-largest economy, the person added.

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Source: Reuters

By Kane Wu