Bain Is Said to Near Deal to Acquire Blackstone’s Avery Lodge

Bain Capital is nearing a deal to acquire Blackstone Inc.’s Singapore worker dormitory firm Avery Lodge after outbidding other rival private equity firms, according to people familiar with the matter.

The US-based investment firms are hammering out the details of a transaction that could be agreed as soon as the coming days, the people said, asking not to be identified because the matter is private. A potential deal could value Avery Lodge at S$750 million ($566 million) to S$780 million, the people said.

Representatives for Bain and Blackstone declined to comment.

Avery Lodge has four purpose-built worker dormitory compounds ...