(Bloomberg) -- Bain Capital sweetened its bid for Insignia Financial Ltd. as takeover activity heats up for the Australian wealth manager. 

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The Boston-based private equity firm offered A$4.30 per share, Insignia said in a statement Monday. That matched an earlier bid from CC Capital Partners and comes after Insignia rejected a lower offer last month from Bain. 

Overseas players are showing appetite in acquiring Australian money management firms, in part due to their exposure to one of the world’s fastest growing pension pools. Bain’s most recent offer values Insignia at about A$2.9 billion ($1.8 billion).

Insignia shares closed at A$4.12 on Friday. 

Bain, in its revised offer, said it was open to discussing a transaction structure that would allow Insignia shareholders to receive part of the deal as equity in the new entity.

Insignia’s board is considering both offers, the statement said.

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