Boston · 42 people tracked
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Investment thesis
Bain Capital Real Estate focuses on difficult-to-access sectors at the nexus of emerging economic and secular trends, researching and analyzing secular forces to identify high-quality thematic opportunities supported by long-term demand growth. The firm executes carefully defined, value-add strategies to create stabilized, differentiated assets and portfolios, leveraging Bain Capital's pioneering approach, global platform, and deep vertical expertise.
Source: firm website, verified Oct 13, 2026.
Team · 42 people
from the firm's website & public directoriesChris Leddy is a Managing Director on the Real Estate team at Bain Capital, which he joined in 2021, working on acquisitions and asset management across various real estate property types. He previously was a Principal at Apollo Global Management, where he sourced and executed real estate investments, and before that an Associate Vice President at CIM Group handling real estate acquisitions and asset management. He holds a BS in management from The London School of Economics and an MBA from The Wharton School at the University of Pennsylvania.
Jared Melnik is a Managing Director at Bain Capital, with a focus on the hospitality and travel sectors. His experience includes sourcing investment opportunities, developing business plans, working with management teams on operational changes, and negotiating capital transactions.
Keith Largay is a Managing Director on Bain Capital's Real Estate team, where he leads capital markets efforts for the group after joining in 2025. He previously served as a Senior Managing Director and Co-Head of the Chicago office for JLL Capital Markets, advising institutional investors on real estate capital markets across the United States. He holds a BS from the Wharton School of the University of Pennsylvania, with concentrations in finance and strategic management.
Lukas Gregg is a Managing Director at Bain Capital and a member of Real Estate's founding team, having joined the firm in 2018. He previously worked as a Senior Associate in Harvard Management Company's Real Estate Investment Group, handling acquisitions, portfolio management, and dispositions, and earlier worked in the Real Estate, Gaming & Lodging Investment Banking Group at Jefferies. He holds a BS in finance from Wake Forest University.
Martha Kelley is a Managing Director on the Real Estate team at Bain Capital, which she joined in 2023, where she works on sourcing, underwriting, structuring, negotiating, and managing investments in the living sector. She previously served as a Managing Director and head of northeast acquisitions at Goldman Sachs Asset Management, and earlier worked in investment banking, with more than 15 years of experience in real estate investing and banking. She holds an AB in politics from Princeton University and an MBA in real estate and finance from the Wharton School at the University of Pennsylvania.
Dan Cummings joined Bain Capital in 2018 as a Partner and founding member of its Real Estate business. He previously headed Harvard Management Company's Real Estate Investment Group, co-founded Matapeake Partners LLC, and held senior roles at the Carlyle Group and LaSalle Investment Management/Jones Lang LaSalle. He holds an MBA from the University of Chicago and a degree in economics from Dartmouth College.
Ben Brady is a Partner at Bain Capital and a member of the Real Estate founding team, which he joined in 2018. He previously served as Senior Vice President and Portfolio Manager in Harvard Management Company's Real Estate Investment Group, where he handled sourcing, underwriting, and managing real estate investments, and before that worked as an attorney at Ropes & Gray in Boston. He holds Bachelor of Music and Master of Music degrees from Rice University and a law degree from Yale Law School.
Joe Marconi is a Partner at Bain Capital Real Estate with over 25 years of experience in principal investing, investment management, and real estate transactions. His work spans real estate acquisitions and development, private equity mergers and acquisitions, company formations, asset and portfolio management, real estate technology strategy, and IPO and public debt offerings. His asset class experience includes life science, flex office, media content, hospitality, retail, office, multi-family, and industrial properties.
Ryan Cotton is a Partner and Head of Real Estate at Bain Capital, which he joined in 2003. He has served on the Investment Committee of the firm's Real Estate team since its 2018 founding and also leads Private Equity's global Consumer Vertical. Before Bain Capital, he was a consultant at Bain & Company and worked in baseball operations at the Boston Red Sox. He holds an MBA from Stanford Graduate School of Business and an AB in philosophy from Princeton University.
Alexander Katz is a Vice President on the Real Estate team at Bain Capital, which he joined in 2022. He previously worked as an Investment Associate at Cabot Properties, acquiring and developing industrial assets, and as an Analyst in the Real Estate Capital Advisory group at Evercore advising sponsors and LPs on recapitalizations, spin-outs, and M&A. He holds a BA in English and a BS in business from Wake Forest University.
Brendan Clark is a Vice President on the Real Estate team at Bain Capital, which he joined in 2022. He previously worked as a Senior Analyst at JBG Smith, supporting asset management and dispositions of commercial and retail real estate investments. He holds a BA in English and government with a minor in psychology from Georgetown University.
Brian Fulginiti is a Vice President at Bain Capital, which he joined in 2022, working on acquisitions, asset management, and dispositions across various real estate property sectors. He previously was an Associate at Cerberus Capital Management focused on real estate acquisitions and asset management, and began his career as an Analyst in Lazard's Real Estate Investment Banking Group in New York. He holds an MBA from The Wharton School, where he was a Palmer Scholar, and a BSE with honors in operations research and financial engineering from Princeton University.
David Dyer is a Director on the Real Estate team at Bain Capital, which he joined in 2025, focusing on asset management. He was previously a Director at Nuveen, overseeing office and life science assets, and earlier worked as an Asset Manager at The RMR Group and Digital Realty across office, medical office, life science, industrial, and data center portfolios. He holds an MBA from Columbia Business School and a BA in computer science and Spanish from Amherst College.
Dennis Levin is a Vice President on the Real Estate team at Bain Capital, which he joined in 2025. He previously served as a Vice President at Artemis Real Estate Partners, originating and executing real estate equity and debt transactions across asset classes and fund strategies, and began his career at Blackstone Real Estate. He holds a BS in finance and statistics from the Stern School of Business at New York University.
Matthew Fortuin joined Bain Capital in 2022 as a Senior Vice President and heads the Real Estate group's asset management team. He previously was a Vice President at AEW Capital Management, where he led a team overseeing 15 million square feet of office space, and earlier held roles in commercial real estate investment at Sun Life Financial spanning asset management, acquisitions, and debt origination. He holds an MBA from the Kellogg School, a BA in economics and government from Bowdoin College, and is a CFA Charterholder.
Ryland Dandreta is a Vice President on Bain Capital's Real Estate team, which he joined in 2025, working on acquisitions, asset management, and dispositions in the life science, office, and studio sectors. He previously served as a Vice President at Goldman Sachs Asset Management, handling real estate equity acquisitions and asset management across various asset classes and fund strategies, with more than 10 years of experience in real estate investing. He holds a Bachelor of Architecture from Cornell University.
Sidharth Gajapati Raju is a Principal on the Real Estate team at Bain Capital, which he joined in 2025. He was previously an Investment Director at Lendlease Group, working on equity and debt real estate transactions across the U.S. and Europe, and began his career at APG Asset Management's private real estate team in Hong Kong and New York. He holds a BA in economics from New York University.
Ashley Castle joined Bain Capital in 2018 as a Vice President of Human Resources, focusing on attracting, hiring, and developing talent for the Real Estate team and supporting talent efforts for the North America Private Equity team. She previously held talent roles at Bain & Company and WilmerHale. She holds a BA in American Studies from Connecticut College.
Breland Finch joined Bain Capital in 2023 as an Associate on the Real Estate team. Before that, she interned in the Real Estate, Gaming and Lodging Group at Jefferies. She earned a BS in economics from The Wharton School at the University of Pennsylvania.
Claire Johnson is an Associate on the Real Estate team at Bain Capital, which she joined in 2024. She previously worked as an Analyst on the Real Estate Investing team at Morgan Stanley, focusing on acquisitions and asset management across North America. She holds a BS in computer science and a BS in biology from Haverford College.
Jack Gambello is an Associate on the Real Estate team at Bain Capital. He previously worked as an Analyst in the Real Estate, Gaming, and Lodging Investment Banking Group at Citi, advising real estate companies on M&A and capital raising. He holds a BS in finance from Boston College's Carroll School of Management.
Jay Corrigan is a Partner and Group Chief Financial Officer for Private Markets at Bain Capital, which he joined in 1996. He oversees the finance teams across the firm's Private Equity, Venture, Crypto, Double Impact, Life Sciences, Tech Opportunities, and Real Estate businesses, and also serves as CFO for Double Impact. Before Bain Capital he worked for three years at Ernst & Young, and he holds a BS in accounting from Fordham University.
Kate Lantier is an Associate on the Real Estate team at Bain Capital, which she joined in 2024. She previously worked as an Analyst at Eastdil Secured, focusing on investment sales and debt placement across real estate asset classes. She holds a BS in civil engineering and an MS in management studies from Northwestern University.
Kristen Deftos is a Partner and Head of Human Resources at Bain Capital, where she has worked since 2012, overseeing talent acquisition, performance management, and organizational development across the Double Impact, Life Sciences, Real Estate, and Tech Opportunities teams. Before Bain Capital, she held HR relationship management and global talent acquisition roles at Wellington Management Company and earlier worked in HR and recruiting at J.P. Morgan. She holds an AB from Bowdoin College and an MA in organizational psychology from Columbia University Teachers' College.
Lily Doyle is an Associate on the Real Estate team at Bain Capital, which she joined in 2023. She previously interned with EQT Exeter's industrial acquisitions group. She holds a BBA in finance from the University of Notre Dame.
Lukas Aznar is an Associate on the Real Estate team at Bain Capital, which he joined in 2023. He previously worked as an Associate at Blackstone in New York, focusing on Portfolio and Fund Management. He holds a BS in business administration with specializations in finance and real estate from the Questrom School of Business at Boston University.
Matt Locascio is an MBA candidate at Harvard Business School with experience in private equity and investment banking within the real estate sector. He graduated cum laude from the University of Notre Dame.
Max Lechtman is an Associate on the Real Estate team at Bain Capital, which he joined in 2020. Prior to joining full-time, he worked across the real estate platform in acquisitions, portfolio management, and dispositions. He earned a BS in business administration from Northeastern University.
Michael Epstein is a Senior Advisor for Real Estate at Bain Capital, which he joined in 2018 as part of Real Estate's founding team. He previously served as Senior Vice President and counsel in Harvard Management Company's Real Estate Investment Group, provided legal support to Fidelity Investments' real estate and corporate activities, and headed the Real Estate Law Department at John Hancock Financial Services Company. He holds a bachelor's degree from the University of Michigan and a law degree from the University of Florida.
Nicholas Leavell joined Bain Capital in 2025 as an Associate on the Real Estate team. Before that, he worked as an Analyst in the Real Estate, Gaming, and Lodging Group at Citigroup, advising public companies on M&A and capital raising transactions. He holds a BA in economics from Columbia University.
Patrick Engels is an Associate on the Real Estate team at Bain Capital, which he joined in 2024. Before that, he was an Associate in the Real Estate Strategic Advisory group at Evercore, working on strategic advisory and capital raising assignments for real estate sponsors, operators, and investors. He holds a BS in finance and real estate from the Kelley School of Business at Indiana University.
Sydney Kosoy is an Analyst on the Real Estate team at Bain Capital, which she joined in 2025 after previously interning at Bain Capital Real Estate. She holds a BSBA in finance from Georgetown University.
Timothy Kim is an Analyst on the Real Estate team at Bain Capital, which he joined in 2024. Before that, he interned in the Commercial Real Estate Group at Deutsche Bank. He holds a BA in global affairs from Yale University.
Fund performance · per public LP disclosures · 4
as of Sep 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Bain Capital Real Estate Fund IIILPs: Los Angeles County Employees Retirement Association | 2023 | — | -5.4% | 0.93x | 0.00x |
| Bain Capital Real Estate IIILPs: Maine Public Employees Retirement System | 2023 | — | — | 0.90x | 0.26x |
| Bain Capital Real Estate IILPs: Maine Public Employees Retirement System, Ewing Marion Kauffman Foundation | 2021 | — | -5.3% | 0.88x | 0.11x |
| Bain Capital Real Estate Fund ILPs: Los Angeles County Employees Retirement Association | 2019 | — | 10.5% | 1.32x | 0.54x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- What sectors does Bain Capital Real Estate focus on?
- Bain Capital Real Estate focuses on PropTech.
- Where is Bain Capital Real Estate located?
- Bain Capital Real Estate is headquartered in Boston, US.
- Does Bain Capital Real Estate lead rounds?
- Yes, Bain Capital Real Estate leads investment rounds.
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