Bain Capital has announced the final close of its second Asia fund at US$2.3 billion, exceeding its hard cap of US$2 billion and more than doubling the US$1 billion Bain raised for its first Asia-focused fund in February 2007. Bain Capital Asia Fund II reportedly received commitments of US$100 million from the Pennsylvania Public School Employees’ Retirement System (PSERS) and US$10 million from the Los Angeles Fire and Police Pension System, as well as US$300 million from Bain executives. The fund is Bain’s first to offer investors fee options. Target geographies for Bain Capital Asia Fund II include Japan, China and India.