Gross, who was appointed co-managing partner in 2024, will now lead Bain's global partnership. John Connaughton, co-managing partner since 2016, will move into the role of chair, according to a letter sent to investors. The appointment formalises a succession process that has been underway for several years. Gross previously built Bain Capital's Asia investment operations and played a central role in some of the firm's largest transactions, including the $18bn acquisition of semiconductor group Kioxia. Bain manages about $215bn in assets and has evolved into a multi-strategy platform spanning private equity, credit, real estate, life sciences, and venture investing. Unlike peers such as Blackstone and KKR, the firm has remained privately held. In a letter to investors, Bain said: 'We believe effective succession should be planned years in advance, ensuring we develop our leaders, expose them to the right experiences and provide the next generation with exciting growth opportunities.' Subscribe to our Newsletter to increase your edge. Don't worry about the news anymore, through our newsletter you'll receive weekly access to what is happening. Join 120,000 other PE professionals today....

Chief among the burdens weighing upon the weary sports parent'worse than the endless commutes, the exorbitant fees, the obnoxious parents on the other team'is the sense that your every decision has the power to make or break your child's future. Should your 11-year-old show up to her elementary-school holiday concert, even if it means missing a practice with the elite soccer team to which you've pledged 100 percent attendance' What if this turns out to be the fork in the road that consigns her to the athletic scrap heap' These are heavy decisions'at least they are for me, a soccer dad who happens to have spent years writing about the science of athletic success. Making it to the pros, the conventional wisdom says, is a consequence of talent and hard work. Best-selling books have bickered over the precise ratio'whether, say, 10,000 hours of practice trumps having the so-called sports gene. But the bottom line is that you need a sufficient combination of both. If you're talented enough and do the work, you'll make it. If not'well, decisions (and holiday concerts) have consequences....

Operation Absolute Resolve achieved its objective of seizing Maduro through a mix of extensive planning, intelligence and timing. R. Evan Ellis, a military strategist and former Latin America policy adviser to the U.S. State Department, walked The Conversation through what is publicly known about the planning and execution of the raid. Operation Absolute Resolve was some months in the planning, as the Pentagon acknowledged in its briefing on Jan. 3. My presumption is that from the beginning of the U.S. military buildup in the Caribbean and the establishment of Joint Task Force Southern Spear in the fall, military planners were developing options for the president to capture or eliminate Maduro and other key Chavista leadership, should coercive efforts at persuading a change in the Venezuelan situation fail. Prior to Southern Spear, U.S. military activities in the region were directly overseen by Southern Command ' the part of the Department of Defense responsible for Central America, South America and most of the Caribbean. But establishing a dedicated joint task force in October 2025 helped facilitate the coordination of a large operation, like the one conducted to seize Maduro....

Nicolas Maduro and his wife awoke yesterday in a safe house on a heavily fortified military base in the center of Caracas. Courtesy of a brilliant, audacious U.S. military operation, the two ended their day in a New York City jail cell. The 1989 operation to apprehend the Panamanian dictator Manuel Noriega required 27,000 American troops and took weeks to carry out. Removing the Venezuelan president from power, and from the country, took just two hours and 20 minutes. President Donald Trump characteristically described the operation as 'big stuff,' and for once he was right. Maduro's fall can and should serve American interests and transform Venezuela for the better. Maduro was corrupt and repressive. He was implicated in drug and human trafficking, and he stole his nation's 2024 election. He was also an incompetent manager who ran an oil-rich economy into the ground. Nearly 8 million Venezuelans have fled the country. The world should be better off after his departure. Whether the world will be better off, however, depends on what happens next. Trump says that the United States will henceforth 'run' Venezuela, with the details to be filled in later. One lesson of other regime-change operations is not to topple a government without a plan for what comes next. Yet what comes next in Venezuela seems as vague as the plan for running postwar Gaza under a Board of Peace....