Founded in 1984, Bain Capital is a private equity and multi-asset alternative investment firm based in Boston, Massachusetts. The firm prefers to invest in the retail, business service, consumer, financial service, healthcare, energy, technology, media, telecommunication and industrial sectors.
The firm was founded in 1984 by partners from the consulting firm Bain & Company. These partners included Mitt Romney, T. Coleman Andrews III, and Eric Kriss. The early Bain Capital team included Fraser Bullock, Robert F. White, Joshua Bekenstein, Adam Kirsch, and Geoffrey S. Renhert. Even though founded by Bain & Company executives, Bain Capital is not an affiliate or division of Bain & Company but rather a separate entity. Bain Capital remains a private, employee-owned company.
The firm, and its actions during its first 15 years, became the subject of political and media scrutiny as a result of co-founder Mitt Romney's later political career, including his 2012 presidential campaign. Mitt Romney served as Bain Capital's first and last CEO. Since his departure, Bain Capital has continued to be run by management committee, lead by Co-Chairman Sephen Pagliuca in 2020.
As of 2018, the firm managed more than $105 billion of investor capital.
Funding and Acquisitions
Since inception, Bain Capital has invested in or acquired hundreds of companies. Their investment approach has extended to include public equity, credit, venture capital, real estate, and cross-asset class opportunities in strategic focus areas. They prefer to organize their investments around funds. The originally venture capital focus of their investments shifted towards a focus on leveraged buyouts and growth capital investments in more mature companies.
One of Bain Capital's early venture investments was in Staples, Inc in 1986. They provided $4.5 million to help executives Leo Kahn and Thomas G. Stemberg open the office supply supermarket in Brighton, Massachusetts. They followed a similar venture capital investment strategy through the remainder of the 1980's until the 1990's. Bain Capital's shift in investment strategy towards a focus on leveraged buyouts and growth capital investments in the early 1990's was exemplified by their acquisition of Ampad from Mead Corporation in 1992. The acquisition saw Ampad grow in sales from $106.7 million in 1992 to $583.9 million in 1996, the same year the company listed on the New York Stock Exchange.
Bain Capital describes their investment approach as consulting-based, intending to develop relationships and partnerships with management teams in order to find insights into long-term value for businesses and markets. And they strive in all investment categories to create impact for their investors, teams, and businesses.
Bain Capital's investments and acquisitions have included:
- AMC Theatres
- Artisan Entertainment
- Aspen Education Group
- Apex Tool Group
- Burger King
- Burlington Coat Factory
- Canada Goose
- DIC Entertainment
- Domino's Pizza
- Dunkin' Donuts
- D&M Holdings
- Guitar Center
- Hospital Corporation of America (HCA)
- KB Toys
- Sports Authority
- Toys "R" Us
- Warner Music Group
- The Weather Channel
- Apple Leisure Group
Through the Bain Capital Community Partnership, Bain Capital and its employees strive to make an impact in the communities and neighborhoods where they work and live by supporting a wide array of charitable and nonprofit organizations with their time, expertise and resources. In 1986, Bain Capital employees founded Bain Capital Children's Charity (BCCC) to provide support to causes that benefit youth around the world. Each year, BCCC supports more than 110 organizations worldwide, and has donated more than $50 million to nonprofit organizations since its founding.
Consolidated Container Company to be Acquired by Bain Capital
Bain Capital completed a $1.2 billion deal to buy Japanese nursing home operator Nichiigakkan after fending off a higher, last minute bid from rival Baring Private Equity Asia (BPEA).
Aaref Hilaly joins Bain Capital.
Bain Capital Agrees to SPAC Deal for Cerevel
Bain Capital Credit acquired former Hypo Alpe Adria Bank from the Austrian government, which was the owner through the vehicle HBI-Bundesholding AG.
Bain Capital buys Virgin Australia out of administration.
Bain Capital Credit Goes Live with Hazeltree Collateral Manager.
Zelis backers Parthenon and Bain Capital step in to lead amid CEO departure.
Bain Capital said to pass $2 billion for distressed, special situation fund amid Coronavirus deal opportunity.
Bain Capital has agreed to acquire a controlling stake in the Italian IT company Engineering Group from funds advised by Apax Partners and Neuberger Berman.
Associated investment funds
Documentaries, videos and podcasts
- Bain Capital VenturesBain Capital Ventures is the venture capital arm of Bain Capital that funds enterprise software opportunities across functions and industries.
- Bain Capital CreditBain Capital Credit, formerly Sankaty Advisors, is a private manager of fixed income and credit
- Bain Capital Life SciencesBain Capital Life Sciences invests in biopharmaceutical, specialty pharmaceutical, medical device, diagnostics and enabling life science technology companies globally.
- Bain & CompanyBain & Co, referred to as "Bain," is a management consulting firm based in Boston, Massachusetts and is a member of the Big Three management consulting firms.