Bain Capital is raising money for a third real estate fund with a $3.75B target, a goal that would surpass its prior fund by 25% even as fundraising activity is down across the market.  
The fund was registered last year, according to a Securities and Exchange Commission filing, and new details about its financial targets were revealed in a presentation last week to the New Mexico State Investment Council. 
At the meeting, the state’s main investment vehicle voted to approve a $150M investment in Bain’s third fund, according to an agenda summary first reported by IPE Real Assets. 
Investment strategy manager The Townsend Group, hired by the New Mexico Investment…