Bain Markdowns Are Bad, But Not THAT Bad
Bain Capital joined the markdown parade this month, according to limited partners in the firm's past several buyout funds. It goes without saying that the numbers are ugly, but in context they're just homely. Or, if you like analogies: Bain Capital is to Terra Firma what Jerry Blank is The Wicked Witch of the West. Ok, moving on... The least ugly markdowns were for Bain Capital X, which is only around 25% invested. For the period ending Q4 2008, it was down approximately 10% quarter-over-quarter and 15% for the year. A bunch of companies in this portfolio are still being carried at cost, including Bright Horizons, Contec, Quintiles and The Weather Channel.
3 April 2009•2 mins read
