Bain Capital Insurance Solutions

Matt Popoli is the Global Head of Insurance and a Partner at Bain Capital. He leads the dedicated insurance unit, which he has built since its launch in 2021. Investment decisions are made by the insurance team, drawing on sourcing and underwriting resources from Bain Capital's broader credit and real estate platforms.

It operates as a distinct business unit within Bain Capital, alongside the firm's private equity, credit, and real estate verticals. The unit was launched in 2021 to formalize insurance asset management as a standalone capability, and it leverages the broader firm's origination networks and operational infrastructure while maintaining a separate investment mandate tailored to insurance liabilities.

The unit manages general account assets for life, annuity, and property & casualty insurers. This includes managing assets for Bain Capital's own affiliate reinsurance entities and third-party carrier partnerships. The focus is on long-dated, yield-oriented asset classes that match the liability profiles of regulated insurance companies.

The unit invests predominantly through direct asset origination and customized separately managed accounts for insurance clients, rather than commingled fund structures. Asset classes include direct corporate private credit, commercial mortgage loans, and structured credit, all selected with an emphasis on liability-matching duration and capital efficiency under insurance regulatory frameworks.

Bain Capital does not publicly break out assets under management for its insurance unit separately. Firmwide, Bain Capital manages approximately $185 billion in total assets across all strategies as of 2024 (per Bain Capital, 2024), but the insurance unit's specific allocation is not disclosed.