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Bain Capital co-chairman to retire

Steve Pagliuca, co-chairman of Bain Capital is retiring after 34 years with the private equity firm, according to a report by the Wall Street Journal. Pagliuca will remain a senior adviser at the firm, and will continue to be involved in the portfolio companies in which he holds a board seat.

Pagliuca will also continue to be a significant investor in Bain’s funds, according to the report, with co-managing partners John Connaughton and Jonathan Lavine, who took up their roles in 2016, continuing to lead the firm.

Pagliuca first joined Bain Capital in 1989 and has been involved in several notable takeovers over the years, including the purchase of Gartner, where he is still a board member. Pagliuca also helped lead Bain’s investment in hospital chain HCA.

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