This week, we speak with Jonathan S. Lavine, who is chief investment officer of Bain Capital Credit and co-managing partner of Bain Capital, a leading private investment firm with some $160 billion in assets under management. Bain Capital Credit, which has $40 billion in assets under management, invests across the spectrum of credit strategies, including leveraged loans, high-yield bonds, distressed debt, private lending, structured products, nonperforming loans, and equities.
He serves as a Trustee of Columbia University and a Director of the Boston Celtics.
We discuss how he launched a private credit fund in the mid-1990s, right in the midst of a booming equities market. This division eventually grew into a substantial portion of Bain’s investment portfolio. Lavine explains how the firm continues to operate as a partnership — very different from many of the other firms in the private equity space.
Lavine is active in philanthropy and is currently Co-Chair of City Year‘s National Board of Trustees, an organization focused on stemming the high school dropout rate in urban centers across the U.S. He and his wife support the historically significant documentary films of Ken Burns, and have been supporting the next generation of documentary filmmakers. He is also a member of the United States Holocaust Memorial Council, and the Anti-Defamation League.
A list of his favorite books is here; A transcript of our conversation is available here Monday.
You can stream and download our full conversation, including the podcast extras on iTunes, Spotify, Stitcher, Google, Bloomberg, and Acast. All of our earlier podcasts on your favorite pod hosts can be found here.
Be sure to check out our Masters in Business next week with Luana Lopes Lara, co-founder of Kalshi, which has been approved by the Commodity Futures Trading Commission (CFTC) as an authorized Designated Contract Market (DCM). Kalshi operates a federally regulated exchange allowing investors to trade directly on the anticipated outcome of future events.
Jonathan LaVine Favorite Books
Here All Along: Finding Meaning, Spirituality, and a Deeper Connection to Life–in Judaism by Sarah Hurwitz
Just Mercy: A Story of Justice and Redemption by Bryan Stevenson
The Vietnam War: An Intimate History by Geoffrey Ward and Ken Burns
The Ride of a Lifetime: Lessons Learned from 15 Years as CEO of the Walt Disney Company by Robert Iger
A Man Called Ove by Fredrik Backman
Anxious People by Fredrik Backman
Beartown by Fredrik Backman
Other Books Mentioned
The Master: The Long Run and Beautiful Game of Roger Federer by Christopher Clarey
Boyd: The Fighter Pilot Who Changed the Art of War by Robert Coram
Common Sense: The Investor’s Guide to Equality, Opportunity, and Growth by Joel Greenblatt
2006 Column: Roger Federer As Religious Experience by David Foster Wallace