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Bain scores over tenfold return with $8 7 billion Cerevel sale

Private equity firm Bain Capital stands to make more than 10 times the $250 million it invested in Cerevel Therapeutics Holdings Inc following the neurology-focused drug developer's $8.7 billion sale to AbbVie Inc, according to regulatory filings. Boston-based Bain committed $350 million in 2018 to carve Cambridge, Massachusetts-based Cerevel out of Pfizer Inc, but only $250 million of that was drawn, the filings show. The deal with AbbVie, announced on Tuesday, now values Bain's 36.5% stake in Cerevel at about $2.7 billion.

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