Bain Capital's Blue Nile exit: a sign of things to come in PE?
I work at an MBB firm and have been trying to do PE work, but we have had a significant decrease in this type of work as expected since the industry is slowing down.
Recently I also learned of Bain Capital's exit of Blue Nile (purchased as profitable in 2017 but exited this year as an unprofitable company at 70% of purchase price, which came after a failed attempt to SPAC).
I am trying to understand the state of the industry. Is this just a bad investment from one firm (I know the outcome of their operations focus receives ridicule on this forum), or is this the start of a series of bad exits in PE over the next 12-24 months (rate hikes expected to continue)?
What a crap deal…
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