Bain Capital Real Estate closes $3.4bn Fund III

Bain Capital Real Estate closed its third fund with about $3.4 billion in commitments from a mix of new and existing limited partners. The fundraise includes a $300 million commitment from Bain Capital employees and alumni.

Public pensions backing Fund III included the New Jersey Division of Investment with $250 million, the Teachers' Retirement System of Louisiana with $75 million, and the Los Angeles County Employees Retirement Association with $150 million. LACERA also committed $100 million to each of the firm's first two real estate funds.