Bain credit veteran Davies retires

  • Davies to stay with Bain as adviser through summer
  • Joined Bain in 1999
  • Robinson to be sole head of distressed, special situations

Stuart Davies, a Bain Capital Credit managing director focused on distressed investing, retired from the firm at year-end, according to a person with knowledge of the firm.

Davies will stay on as an adviser through the summer, the person said.

Jeff Robinson, managing director, who with Davies co-led the credit team’s distressed and special-situations focus, will take over as sole head of the strategy, the person said.

Davies was among the key executives on Bain Capital Distressed and Special Situations 2016, a Form D filing shows. That fund closed on $3.1 billion last year, above its $3 billion target, Bloomberg reported. Davies’s departure did not trigger a key-man event at the fund, the person said.

Bain informed limited partners of Davies’s retirement in June and also discussed his departure at the firm’s annual meeting in October, the person said.

The fund invests in credit strategies including leveraged loans, high-yield bonds, distressed debt, direct lending, structured products, nonperforming loans and equities, an investment memo from Pennsylvania State Employees’ Retirement System says.

Davies joined Bain Capital Credit in 1999 when it was called Sankaty Advisors. He was a credit-committee member and chief investment officer of the credit group’s opportunistic credit business, an archived version of the website said.

Prior to his leadership role in opportunistic credit, Davies focused on the metals and mining sectors and ran the credit team’s middle-markets group from 1999 to 2008, the archived website said. Prior to Bain, Davies managed private-placement investments at Prudential Capital Group.

Last year, Bain rebranded Sankaty to Bain Capital Credit, while its hedge fund group, Brookside Capital, became Bain Capital Public Equity, Bloomberg reported. Bain Capital Credit manages about $30.4 billion.

Action Item: Check out the PSERS investment report here:

Photo of Bain Capital Credit Managing Director Stuart Davies courtesy of the firm.