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Bain Capital has closed its third flagship real estate fund, Bain Capital Real Estate Fund III, with $3.4 billion in commitments, exceeding its previous fund by $400 million. The fund has allocated approximately 31 percent of its capital to diverse sectors, including industrial and grocery-anchored retail, and includes a $400 million investment in US shopping centers alongside 11North Partners. This marks a strategic shift from previous investments in life sciences and media production, as Bain adapts to changing market conditions.