Hedge Funds: Bain to Raise Up To $7 Billion For New Long-Only, Public Equities Fund

Josh Ross, Bain’s public equities veteran, will oversee the new fund.

Alternatives investments specialist Bain Capital will be less ‘alternative’ soon. It is proposing a fundraise for a new public equity, long-only fund.

According to Bloomberg (via Yahoo Finance), the new fund will be overseen by Josh Ross, who has been running the firm’s public equities group since 2017.

Bain Capital Public Equity

Bain Public Equity, since 1996, has been applying a conviction-based approach to absolute return-oriented alternative equity strategies in the public markets. The unit was previously known as Brookside Capital. It is a “global alternative equity platform” that relies on fundamental research for actionable investment insights. The manager emphasizes:

  • Analytical portfolio construction
  • Isolate alpha
  • Generate good returns with low correlation to broad equity markets

According to Bloomberg, which quoted “people familiar with the matter,” the fund manager is targeting a fundraise of between $5 to $7 billion for the new fund.

Bain Capital: Diversifying out of Buyouts

Bain Capital is one of the world’s leading private multi-asset alternative investment firms with approximately $105 billion of assets under management. It is active in several alternative asset classes, including private equity, credit, venture capital and real estate.

Of late, it has raised funds for focused funds such as impact investing and life sciences – steps that mark a slight diversification from its buyout business.

Further, The firm’s Tech Opportunities Fund invests in companies in large, growing end markets with innovative or disruptive technology.

It has stuck to its hedge fund knitting in the face of industry headwinds.

For the past few years, more hedge funds closed than new funds opened.

Related Story:  Bain Capital, Carlyle Announce Bid to Takeover Osram

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January 16, 2020

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