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**Bain Capital, 11North Partners Close $1.6 Billion Fundraise for Open-Air Retail Platform**
Bain Capital Real Estate and 11North Partners have successfully closed a capital raise of up to $1.6 billion to support investments through their dedicated open-air retail-focused operating platform, which was launched in April 2024.
The capital raise was anchored by two leading global institutional investors and includes commitments from both existing and new Bain Capital investors. With additional participation from Bain Capital Real Estate Fund III, the platform now has access to more than $2 billion in investable equity.
“This platform is a testament to Bain Capital’s more than 40-year heritage of thematic investing in the consumer sector, which has enabled us to build deep institutional knowledge and differentiated insight into how real estate can capitalize on and adapt to shifts in consumer behavior,” said Ryan Cotton, Partner and Head of Bain Capital Real Estate.
The investment strategy focuses on markets experiencing strong demographic growth and robust sales performance among key retailers. Recently, Bain Capital and 11North acquired a $395 million, 10-property portfolio of Publix-anchored shopping centers across Florida and Charleston, South Carolina. Earlier in the year, they also purchased three open-air lifestyle retail centers in Oklahoma City for approximately $212 million.
Pictured: Sawgrass Square in Sunrise, Florida, one of the properties included in the 10-asset portfolio acquired by Bain Capital and 11North in August 2025.
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