FORTUNE — Bain Capital has closed its eleventh flagship private equity fund with $7.3 billion in capital commitments, according to a source close to the Boston-based firm. That figure is significantly higher than the $6 billion Bain sought when it began fundraising in the fall of 2012, and includes $800 million from the firm’s partners (the most they have ever committed to a single Bain fund).
Bain had held a $3 billion first close in April 2013, and effectively had the rest wrapped up by year-end. It held off on the final close until now in order to accommodate a handful of investors that had time-specific allocation requirements.
Approximately one-quarter of the fund commitments were from new investors, many of whom availed themselves of a so-called “performance” fee structure that includes a 0.5% management fee, 30% carried interest and no preferred return. Many other investors took a “market standard” option of a 1.5% management fee, 20% carried interest and 7% preferred return. No word on the specific breakdown.
Bain’s first deal for the new fund will be Grupo Notre Dame Intermedica, a Brazilian health and dental plan provider that the firm agreed to purchase last month for an undisclosed amount. It also is reported to be one of several private equity firms considering a buyout of some, or all, of Symantec Corp. (SYMC).
The firm remains in market with its fourth European fund (almost finished, with a €3.5 billion target). Last summer it closed its second Asia-focused fund with $2.3 billion.
Bain Capital declined to comment on the new fund.
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