Andrew Balson has stepped down as a managing director with Bain Capital after 18 years with the private equity firm, Fortune has learned. The news was first revealed in a letter sent to Bain investors at the end of 2013, but had not been publicly reported until now.
Balson originally joined the Boston-based firm in 2000 after having served as a consultant with Bain & Co. and as a banker with Morgan Stanley. He was promoted to managing director in 2000, and worked on such deals as Domino’s Pizza, Dunkin’ Brands and Odwalla Inc. He remains on the boards of publicly-traded Bain portfolio companies Bloomin’ Brands (BLMN) and FleetCor (FLT). A source familiar with the situation also says that he is still working with Bain to transition some Asia-focused deals over to other Bain executives.
No word yet on where Balson will head next, although the letter to LPs suggested that he wanted to focus on smaller sorts of investors — growth equity and small-cap control deals — that were below Bain’s typical threshold.
Balson is the second longtime Bain Capital partner to leave this year, following Mark Nunnelly.
A Bain spokesman declined comment.