Bain rebrands Sankaty and Brookside, shuffles leadership

Sankaty will become Bain Capital Credit while Brookside will be renamed Bain Capital Public Equity. The core private equity business and Bain Capital Ventures will continue under their present names. The firm said in a note to LPs - first reported by Fortune and since verified by AVCJ - that the changes are "in recognition of our continued global expansion and the value of cross-platform integration and expertise."

Jonathan Lavine, who founded Sankaty in 1997, has been appointed co-managing partner of Bain Capital alongside John Connaughton, previously a managing director in the private equity business. Meanwhile, longstanding managing directors Steve Pagliuca and Joshua Bekenstein have become co-chairs of the firm.

The note said that Connaughton and Lavine will be responsible for leadership of Bain, "including setting the strategic direction of the partnership and managing the firm day-to-day." They will work in conjunction with the managing directors in delivering on the firm's strategy. Pagliuca and Bekenstein will participate in key decision-making alongside the managing directors and they will remain involved in the private equity business.

Bain closed its third pan-Asian PE fund last December at the hard cap of $3 billion plus a GP commitment of at least $250 million. Sankaty - now Bain Capital Credit - has also expanded globally and within the region. Last year it bought GE Capital's commercial lending and leasing portfolios in Australia and New Zealand. This followed the purchase of J.P. Morgan's Global Special Opportunities Group, which included a substantial portfolio of loans and special situations investments in Australia and Asia.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• People
• GPs
• Buyout
• Credit/Special Situations
• North America
• Bain Capital Asia
• Sankaty Advisors
• Appointments
• Asia