Paul Edgerley, a longtime Bain Capital managing director, plans to retire from the Boston-based private equity firm at the end of the year.
Edgerley, 60, has been with the firm for 27 years, and is one of its longest serving partners. In a letter to clients Monday, the firm said he would remain an adviser and mentor to employees, and continue to serve on the boards of several companies where Bain has investments.
“Having joined Bain Capital only a few years after its founding, Paul has left an indelible mark on our firm and our culture,’’ the letter said.
Edgerley has specialized in industrial deals at Bain. He also was an adviser in the early days of Bain’s Brookside Capital hedge fund launch and helped lead Bain Capital’s expansion into Asia.
He is expected to spend more time on his family’s philanthropy, going forward.
Another early Bain Capital partner, Mark Nunnelly, left the firm last year. He is now commissioner of the Massachusetts Revenue Department.