By Kane Wu

(Reuters) - Bain Capital is close to wrapping up fundraising for its sixth pan-Asia private ​equity fund after raising about $10.5 billion, two people with knowledge of ‌the matter said Tuesday, well exceeding its $7 billion target.

The firm has bagged $9 billion from fund investors, or the so-called limited partners, and plans to contribute $1.5 billion of its own ​capital, making the vehicle its largest Asia-focused fund to date, one ​of the people said.

The sources declined to be named as ⁠the information is private.

Bain Capital has separately raised about $2 billion for a ​buyout fund targeting mid-cap deals in Japan, the sources said.

The Boston-based investment firm ​declined to comment.

Bloomberg first reported the fundraising amounts on Tuesday.

STRONG INVESTOR INTEREST IN ASIA

Bain Capital's smooth fundraising underscores strong investor interest in the Asia region, particularly Japan where the firm ​has a heavy focus, amid market volatility and geopolitical uncertainties.

It has ​invested in Japanese businesses for two decades including marquee deals such as the $18 billion buyout ‌of ⁠Toshiba Corp's memory chip business and a $5.5 billion acquisition of York Holdings, the non-core businesses of Seven & i Holdings (3382.T).

The firm, which raised $7.1 billion in its fifth pan-Asia buyout fund in 2023, also has a strong presence in Greater ​China and India.

​The fundraising adds ⁠to a growing list of mega pan-Asia buyout funds raised by global investment firms.