Bain Capital will step up its hunt for Australian credit, distressed debt and structure equity investments.
Bain Capital will step up its hunt for Australian credit, distressed debt and structure equity investments after raising the biggest special situations fund in the Asia Pacific region.
Flights booking service Webjet is one of the investments in Bain Capital’s special situations portfolio, after the firm tipped into the company’s recapitalisation in 2020.The firm has hit a final close on its Bain Capital Special Situations Fund II at more than $US2 billion , restocking the deal warchest for its special sits operatives in Australia, Japan, Korea, China, India and South-East Asia.
The fundraising was twice as big as the former raising, Bain Capital Special Situations Fund I, in a clear sign investors reckon there should be juicy returns to be made in backing growth equity, distressed assets and other recapitalisations. Bain Capital’s Australia special situations unit falls under the remit of local Bain Capital Credit boss Joshua Hartz,who joined the firm from Anchorage Capital Group in 2018.
Josh Hartz, who was heavily involved in the Mike Muphy-led Virgin Australia buyout, was appointed as an MD in early January.
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