Bain Capital Closes Debut Insurance Fund at $1.15B

Bain Capital Insurance, the insurance arm of Bain Capital, held the final close of its inaugural private equity fund, Bain Capital Insurance Fund, L.P. at $1.15 billion, above its initial target of $750 million.

The fund includes approximately $1 billion of commitments from institutional investors and high-net-worth individuals and families, while Bain Capital employees committed the balance of the fund.

Focused on middle market transactions, the investment strategy is concentrated on management partnerships, carve-outs, and turnarounds; launching and building new insurance platforms; and inflection or event-driven investments driven by supply/demand imbalances, evolving business models and shifting industry trends.

“This significant milestone reflects the enthusiasm and trust of our investors, the relationships we’ve built with business leaders and entrepreneurs across the industry, and the significant opportunities we see to drive value across the complex insurance value chain,” said Matt Popoli, Partner and Global Head of Bain Capital Insurance.

Bain Capital Insurance was launched in 2021 as a new business unit.

In June, the firm launched Aptia, a pension administrator. It also previously launched Summitas Gruppe, a German insurance brokerage platform, and Enhance Health, a tech-enabled health insurance brokerage and care navigation platform.