Bain Capital has formed Bain Capital Real Estate, comprised of the professionals currently managing Harvard Management Co.’s (HMC) real estate investments.
Effective Feb. 1, 2018, the HMC Real Estate Team, which consists of approximately 20 dedicated professionals, will spin out of HMC and become Bain Capital employees.
Dan Cummings, an industry veteran and currently managing director and head of real estate at HMC, will lead the team which he helped found in 2010. The team, which has invested more than $3.4 billion of equity in its direct real estate investment strategy since its inception, will manage HMC’s direct real estate investment portfolio and HMC will continue to invest in the team’s future strategies.
The addition of the real estate team will also enable Bain Capital to leverage the group’s deep experience for the benefit of the firm’s existing businesses. The firm currently has significant real estate expertise through Bain Capital Credit’s global distressed and special situations portfolio and Bain Capital Private Equity’s consumer, hospitality and retail portfolio. As part of Bain Capital, the real estate team will leverage the firm’s global platform to assist them in sourcing efforts as well as deep industry expertise in life sciences/healthcare, consumer/retail, industrials and other sectors germane to its current portfolio as well as future investment themes.
