Massachusetts Democrats are slowly lining up to run next November against Senator Scott Brown (R-MA), including at least one executive who lost the Democratic nomination last time around. But do not expect former candidate Steve Pagliuca to join them.

Pagliuca, a managing director with buyout firm Bain Capital, this morning said he would not seek the Democratic nomination against Brown, adding that he feels he can better effectuate change as a businessman than as an elected official. The comments came following a keynote speech at the SuperReturn U.S. conference in Boston, and Pagliuca did not hesitate when asked. Pagliuca did add, however, that he remains deeply a heavily involved member of the Democratic Party.

Pagliuca became well-known to Massachusetts residents as a co-owner of the Boston Celtics, particularly when that franchise won the NBA championship in 2008. He hoped that name recognition would translate in the 2009 special election to succeed the late Ted Kennedy, but it failed to do so. He came in last of the four candidates vying for the Democratic Party nomination, with just 12% of the vote. The winner of that primary, state attorney general Martha Coakley, went on to get beat by Brown in an election that raised GOP hopes nationwide.