Esure and PIB investor Bain Capital raises $1.15bn for new insurance M&A arm
Esure and PIB Group investor Bain Capital has announced the final close of its inaugural private equity fund, Bain Capital Insurance Fund, LP at $1.15bn (£890m), above its initial target of $750m.
The fund includes about $1bn of outside commitments from institutional investors and high-net-worth individuals and families. Bain Capital employees committed the balance of the fund, continuing the firm’s heritage of being the largest investor collectively across its funds, the PE house confirmed.
Bain Capital Insurance Fund will now focus on middle market transactions in North America and Europe across the entire insurance value concentrated on three core areas:
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