Bain’s interest in Seagate fades

PRIVATE equity firm Bain Capital’s interest in a deal for hard-disk drive manufacturer Seagate Technology is waning, three sources familiar with the situation said yesterday.

The private equity firm was one of several that had been initially interested in Seagate – the others were TPG Capital and Kohlberg Kravis Roberts (KKR).

A deal could still materialise for TPG, which has been trying to find equity partners. KKR has lost interest, while private-equity firm Silver Lake left the process in October. Bain declined to comment.