Bain Captial FT Analyst Program
Does anyone know the timeline for the FT process? Has anyone heard anything back about the virtual networking event yet?
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This might be a dumb question but how "competitive" is this program? From reading the other forums on here it appears the consensus is that bain has shifted out of the MF category for pe so im curious how that might have impacted this process? Are top candidates taking this over the top banking gigs? Obviously this is a good program but for the top candidates it comes down to splitting hairs so I wonder how the UMM categorization impacts the thought process
For the type A people it probably is pretty substantial and they likely will only target the MF PE analyst programs or do 2 years at banking for a shot to get into MF but for 99% of the other monkeys they would be more than happy taking this opportunity. Bain has struggled recently but is still a reputable name, will be interesting to see if this decade fairs better for them
Is that really true in the broader PE community? Bain has ~$20B in PE AUM globally and (correct me if I’m wrong) recent performance has been very good from what I’ve seen.
Obviously Bain and TPG stumbled in 2008, but it looks like they’ve both gotten back on track since then. And many private firms (i.e. not Carlyle, BX, APO, KKR) have chosen to limit their AUM to maintain performance since the incentives end up quite different. So I struggle to see why Bain would be looked at negatively right now. If anything the picture seems very encouraging?
20bn aum across all funds/strategies/geographies isnt that big tbh. The MFs of today are raising flagship funds >15bn with well over 20bn of total aum. Look at bains fundraising across flagship funds, they are raising smaller funds each time they try which is an indicator of performance. Also its not that they are absolutely tanking & each deal is blowing up its that the funds of similar size 10 years ago have had far more success and that shows in fundraising
They have over 100B AUM, the 20 is just PE capital. And I have no idea what you’re saying about the fund sizes consistently getting smaller. They shrunk once after 2008 and have been steadily growing and hitting all their fundraising hard caps since.
PE aum is what matters. If you are recruiting for their pe division who cares how large their real estate fund or credit fund is. Their newest flagship fund is targeting a raise smaller than the 2008 fund too so that is two funds smaller. You have to compare them against their comp set, who raised massive Pe funds and rapidly expanded pe aum since 2008 while bain lagged
The issue with that logic is not all firms are trying to grow as fast and big as possible. Bain being private has significantly different incentives than the public funds like BX and KKR. TPG is a similar analogue to Bain in this instance, given that they both shrunk after 2008 and have been growing and performing well since. I haven't met a single person outside of WSO who would hesitate at an analyst or associate role at either firm. Saying otherwise means you either run in very different circles or is disingenuous.
Also, whoever is saying 20B for PE dry power is not a lot, that's hilariously wrong. Just look at this year's PEI300 ranking. Bain is #13, ahead of Apollo and Thoma.
This is also not a clear consensus. Megafund has never been a clear term, sometimes meaning >5B PE fund size. Pitchbook defines it as >10B fund size, and includes Bain Capital in its list of megafunds.
The poster below also correctly pointed out that Bain is ranked in the top 15 on PEI300, which is ONLY calculated on PE fundraising in the last few years.