Steve Pagliuca, a managing director with
In a letter to its limited partners last week, Bain Capital announced that Pagliuca will take a leave of absence from the firm rather than tender his resignation.
Bain Capital said that Pagliuca’s decision to run will not affect the operation of our business for several reasons. Among the reasons listed, Bain Capital said: “Our leadership team of 36 private equity managing directors is broad, deep and global.”
the firm added: “None of the firm’s resources will be used to advance [Pagliuca’s] campaign.”
Onetime U.S. presidential candidate Mitt Romney recruited Pagliuca to Bain Capital in 1989.
Wycliffe “Wyc” Grousbeck is CEO, Governor, and co-owner of the National Basketball Association basketball team the Boston Celtics.
in 2002, Pagliuca became a part-owner of the Boston Celtics when he joined Wyc Grousbeck, a former partner at Highland Capital Partners, to lead an investment group that bought the basketball team for $360 million. —Alastair Goldfisher