Bain Capital's Managing Partner on Private Credit, Alts, and More | At Barron's

Hello everyone and welcome to At Barrens. I'm Andy Sirware and welcome to our guest David Gross, managing partner of Bane Capital which is a large global private investment firm. David, nice to see you. — Good to see you. Great to be here Andy. So tell us about how you measure the scale of Bane and how you would measure success at the company.

So it's a great it's a great first question first question. Um you know we are perhaps a little bit different than our uh our brethren in the industry in that uh we don't look at really assets under management um as the primary mark but really it's our investment returns and our investment performance. Um, our overarching goal as a firm is to generate superior performance for our investors.

We're really looking for that uh premium level of returns driven by uh alpha that's built on real capabilities. And so it really is the economic profit that we're able to generate for our investors that that's the key, you know, KPI that we're we're focused on.

And what sort of numbers can you share with us that would speak to that? Well, we want to be in the certainly the first and second quartile of of returns and we're really shooting for, you know, very significant thousand basis point premiums to the relevant, you know, indices that we' be looking at. So, you know, we're shooting for uh high performance that's going to compound over a long period of time.

Um, that's going to be differentiated in the way that we generate that performance. you know largely driven by uh value creation. Um you know we have to think about the buy and the sell but it's it's what we do in between that really really matters in terms of driving you know operating per performances and and changing trajectories of our our businesses and that's the shest way to generate that

Performance through cycles through market environments.