Mark Nunnelly has stepped down as a managing director at Boston-based private-equity firm Bain Capital Partners LLC, according to a person familiar with the matter.
Nunnelly, 55, retired in January, when Bain began to invest its 11th private-equity fund, said the person, who asked not to be identified because he wasn’t authorized to speak about the matter. Nunnelly had previously chosen not to participate in deals backed by the $7.3 billion pool, which the firm completed raising in April.
Charlyn Lusk, a Bain spokeswoman at Stanton Public Relations & Marketing, declined to comment. Nunnelly didn’t return a phone message.
A Harvard Business School graduate, Nunnelly joined the buyout shop from corporate-consulting firm Bain & Co. in 1989, five years after Mitt Romney and other former Bain & Co. executives started it. Buyout firms use capital from funds they raise and loans to acquire controlling stakes in companies and subsidiaries, with the goal of improving operations and selling them at a profit.
Among other deals, Nunnelly in the last 15 years helped engineer leveraged buyouts of Domino’s Pizza Inc. (DPZ), Houghton Mifflin Harcourt Publishing Co. and Warner Music Group Corp.
He will continue to serve on the boards of several Bain-backed companies, including Bloomin’ Brands Inc. (BLMN), which runs the Outback Steakhouse chain, the person said.
Bain Capital manages about $75 billion across a range of private-equity, credit and hedge funds, according to its website.
Fortune.com reported Nunnelly’s departure earlier today.
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