Fitness to Morgan Stanley Capital Partners. Bain Capital Life Sciences Bain Capital Life Sciences invests in companies that focus on medical innovation and serve patients with unmet medical needs. It raised its first fund of $720 million in May 2017. In September 2019, SpringWorks, a biopharmaceutical company Bain Capital Life Sciences owns a 17% stake in, launched an IPO. Also in 2019, the company closed two life sciences portfolios, in Cambridge, Massachusetts, and in the Research Triangle in North Carolina. Bain Capital Real Estate Bain Capital Real Estate was founded in 2018 when Harvard Management Company shifted the management of its real estate investment portfolio to Bain Capital. The Bain Capital Real Estate team is managed by members of Harvard Management Company's former real estate team. Bain Capital Real Estate closed an initial fund of $1.5 billion in July 2019. Bain Capital Tech Opportunities Bain Capital Tech Opportunities was created in 2019 to make investments in technology companies, particularly in enterprise software and cybersecurity. Appraisals and critiques Bain Capital's approach of applying consulting expertise to the companies it invested in became widely copied in the private equity industry. University of Chicago Booth School of Business economist Steven Kaplan said in 2011 that the firm "came up with a model that was very successful and very innovative and that now everybody uses." In his 2009 book The Buyout of America: How Private Equity Is Destroying Jobs and Killing the American Economy, Josh Kosman described Bain Capital as "notorious for its failure to plough profits back into its businesses," being the first large private-equity firm to derive a large fraction of its revenues from corporate dividends and other distributions. The revenue potential of this strategy, which may "starve" a company of capital, was increased by a 1970s court ruling that allowed companies to consider the entire fair market value of the company, instead of only their "hard assets", in determining how much money was available to pay dividends. In at least some instances, companies acquired by Bain borrowed money in order to increase their dividend payments, ultimately leading to the collapse of what had been financially stable businesses. Notable current and former employees Joshua Bekenstein John P. Connaughton Mitt Romney Jonathan Lavine Steven Pagliuca Deval Patrick References Bibliography External links Bain Capital (company website) "Companies’ Ills Did Not Harm Romney’s Firm" article by Michael Luo and Julie Creswell in The New York