I was wondering if anyone had experience with Bain Capital Credit’s Distressed arm. What types of deals have they done, are they looking to make control investments, what’s the culture of the team, and how does associate recruiting differ for distressed credit versus PE at Bain (specifically anyone with experience interviewing)?
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Bump
Dated as of 2019, but the PSERS resolution linked here provides a good place to start. Public LP material is typically high level, so I'd recommend cross referencing the info here with LinkedIn and news articles.
This is very helpful! Thanks for sharing!
Anyone have an updated 2022 view on Bain Capital Credit's Distressed & Special Situations group?
bump
A lot of what they do is managing workouts of credits originated/held by the rest of Bain capital credit that have gone sour. I’m not sure how much, if any, principal investing they do on their own.
Bain raised 3.2bn in 2020 to do distressed investing so assume at least a decent amount of principal investing is done by the team. I've seen a couple assets in market that they acquired.
Thanks. Was not aware but makes sense.
DSS is a specific fund group with $12.5BN AUM, they don't manage workouts of private credit / liquid credit positions. The main DSS fund has an extremely flexible mandate and can across the cap stack from stressed senior financings through to controlling equity positions / loan to own etc. Also active in real assets (aviation, shipping, RE, NPLs etc).
any idea how the DSS real assets group is generally viewed / regarded?
Yeah they do loan to own and started doing growth LMM PE deals. Work different from PE arm as PE arm does growth buyout (sectors with high growth, high multiple at entry), lot of Consultant type of tasks. The distress team is a value investing team
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