Bain Capital

David Gross recently joined Alison Mass on the Goldman Sachs Exchange podcast to discuss the globalization of private equity and alternative investments. They explored how we’ve navigated opportunities across asset classes and geographies over our 40-year history by leveraging our consulting heritage, macro insights, value creation team, and private partnership model. David also discussed the evolving exit landscape and how firms are adjusting their strategies for monetizing investments. He highlighted our disciplined and patient approach in this shifting environment, which has enabled us to successfully achieve realizations over the past two years while maintaining a focus on long-term value creation. Additionally, David and Alison reminisced about conversations dating back to the mid-2000s, when we first launched our Asia business, and how the landscape has evolved. https://lnkd.in/eAR4cuHK

Atsena Therapeutics seeks to advance ocular gene therapy by developing transformative treatments for inherited retinal diseases. With a strong scientific foundation and promising clinical data, the company is working with urgency to restore vision and improve lives. That's why we are proud to lead Atsena’s $150M Series C financing to fuel its next phase of growth and innovation. This investment will accelerate clinical progress and advance genetic medicine to address significant unmet needs in ophthalmology. We look forward to partnering with Patrick Ritschel and the Atsena team as they advance breakthrough treatments to restore vision and improve patient lives. https://lnkd.in/esQ9GJ6y

Earlier this month, 22 colleagues from five offices around the world ran the 2025 Tokyo Marathon in support of Room to Read, raising over $100,000 to advance literacy and directly support programming for more than 5,000 students. Room to Read helps transform the lives of millions of children in low-income communities by improving literacy and expanding educational opportunities. Through partnerships with local communities, organizations, and governments, they help school children develop strong reading skills and build the life skills they need to succeed in school and beyond. Congratulations again to our runners and donors for their dedication and impact.

The Bain Capital team in Europe recently hosted an impactful Sustainability Conference in Madrid, uniting over 30 leaders from our private equity portfolio. This event provided a dynamic platform for exploring critical issues such as #Sustainability, #Decarbonisation, and #ValueCreation. Industry experts from our portfolio companies shared their insights during engaging panels on the #EnergyTransition, emphasizing the importance of sustainable practices and innovative solutions.   A standout moment was the inspiring site tour led by ITP Aero CEO Eva Azoulay, highlighting their bold commitment to achieving net zero emissions by 2050. As a testament to their sustainability leadership, ITP Aero has been awarded the prestigious Platinum Medal by EcoVadis, placing them in the top 1% of companies globally assessed in 2024 for business sustainability.   At Bain Capital, we remain steadfast in our commitment to fostering sustainable growth and driving innovation across our portfolio. 

Amidst resilient demand for light industrial real estate in Sweden, we identified a compelling growth opportunity in this dynamic sector. Our strategic investment of €150 million into Företagsparken empowers them to expand their asset base and capture emerging market opportunities.   This collaboration not only fosters growth but also focuses on enhancing energy efficiency and implementing sustainable building practices across the portfolio.   Discover more about this transformative partnership: https://lnkd.in/eGZxg642   #BainCapital #Foretagsparken #GrowthCapital #Credit #RealEstate 

John Wright recently joined Lisa Lee on the Credit Exchange podcast to explore how widening spreads are unlocking exciting opportunities in public and private debt markets. He offered perspective on how our credit team has successfully navigated countless volatile macroeconomic cycles over the past 25 years by employing a disciplined, bottom-up strategy. This approach combines deep sector and company insights with a flexible macro perspective to derive both new investment opportunities and unparalleled risk mitigation.    Listen to the full episode here: https://lnkd.in/eXjJq-Ca

Today we announce our investment in Namirial, a leading digital transaction management software provider. With an international network of more than 1,000 strategic partners and thousands of customers worldwide, Namirial is renowned and trusted by customers for its comprehensive suite of digital solutions including e-signature workflows, onboarding and digital identity orchestration, digital trust technologies, qualified electronic archiving and e-invoicing.   With our deep local expertise in scaling technology-driven enterprises and a strong presence in the region, we are well positioned to accelerate Namirial’s growth, expand its market reach internationally, and set new benchmarks in the digital transaction management industry.   Learn more here: https://lnkd.in/e8S_jFPg   #BainCapital #Namirial #DigitalTransactions

In celebration of International Women’s Day, we had the privilege of hosting a webinar featuring perspectives from three CEOs across our portfolio - Kate Tinsley of MKM Building Supplies, Lindsay Shumlas of Cotopaxi, and Maya Gat of Branching Minds.    Each shared their personal and professional journeys as C-suite leaders, emphasizing the importance of collaboration, a strong commitment to impact and values, and driving purposeful growth.

2024 was a pivotal year for credit markets, marked by resilient demand and attractive yields across private, structured, and liquid credit. While credit spreads broadly compressed, total yields remain elevated, supporting demand. Private credit continued expanding, particularly in asset-based lending, driven by shifts in lending and growing investor demand for alternative yield sources. Looking ahead, we remain attentive to policy developments, inflation trends, and interest rate movements that could introduce volatility. However, we believe fundamentals will remain supportive as issuers have pushed out maturity walls and lowered interest costs. Additionally, we believe our strategic focus on resilient sectors, flexible capital structures, and middle-market opportunities positions us well for the year ahead. Here are four key takeaways shaping our outlook: 1. 𝐏𝐫𝐢𝐯𝐚𝐭𝐞 𝐂𝐫𝐞𝐝𝐢𝐭: 𝐂𝐨𝐫𝐞 𝐌𝐢𝐝𝐝𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐀𝐝𝐯𝐚𝐧𝐭𝐚𝐠𝐞 The direct lending market, private credit’s largest segment, has grown significantly. Many peers have “graduated” into the upper middle market, even competing with syndicated loans. We believe the core middle market—companies with $25M to $75M in EBITDA—offers strong fundamentals, higher lender protections, and less competition from broadly syndicated loans. These attributes should persist into 2025 and beyond. 2. 𝐀𝐬𝐬𝐞𝐭-𝐁𝐚𝐬𝐞𝐝 𝐅𝐢𝐧𝐚𝐧𝐜𝐞: 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐁𝐞𝐲𝐨𝐧𝐝 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐋𝐞𝐧𝐝𝐢𝐧𝐠 As alternative capital providers replace constrained traditional lenders, asset-based lending presents a growing opportunity. Asset-Based Finance (ABF) offers differentiated exposures and benefits compared to direct lending and corporate credit. While promising, successful investing in ABF requires specific expertise. 3. 𝐁𝐚𝐧𝐤 𝐋𝐨𝐚𝐧𝐬 & 𝐂𝐋𝐎𝐬: 𝐅𝐮𝐧𝐝𝐚𝐦𝐞𝐧𝐭𝐚𝐥𝐬 𝐚𝐧𝐝 𝐘𝐢𝐞𝐥𝐝𝐬 𝐃𝐫𝐢𝐯𝐢𝐧𝐠 𝐃𝐞𝐦𝐚𝐧𝐝 Demand for bank loans and CLOs remains strong, supported by sustained CLO issuance and yield-seeking investors. CLO debt—both investment grade and mezzanine—offers attractive relative value versus other fixed-income and structured credit segments. While performance has been strong, credit and industry selection remains imperative. 4. 𝐃𝐞𝐟𝐚𝐮𝐥𝐭𝐬 𝐄𝐧𝐯𝐢𝐫𝐨𝐧𝐦𝐞𝐧𝐭: 𝐋𝐢𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐄𝐱𝐞𝐫𝐜𝐢𝐬𝐞𝐬  Default rates rose in 2024, primarily due to increased out-of-court restructurings, such as liability management exercises (LMEs). Beyond LMEs, which should stay elevated short-term, the broader default environment has been relatively benign, with 2025 forecasts improving. The rise of LMEs has created diverging recovery experiences, favoring the largest and most experienced managers. Learn more about our approach: https://lnkd.in/exvSx9FS

For 75 years, Manappuram Finance Limited has been a trusted financial partner, growing from a gold loan provider into a diversified financial services leader. With 5,000+ branches and strong customer relationships, the company plays a key role in expanding financial access across India.   We’re excited to support Manappuram Finance in its next phase of growth. By leveraging its strong foundation in gold loans, accelerating growth in other high-potential segments, and enhancing operational excellence, the company is well-positioned to strengthen its leadership in India’s financial services sector.   This investment builds on our deep experience in financial services in India and globally. We look forward to partnering with Mr. Nandakumar & his team to drive growth and further democratize access to financial products in India.   Read the full announcement: https://lnkd.in/eNAq9cUq