Bain Capital - 1792 Exchange

Rating Overview

Bain Capital is Medium Risk.

Bain Capital, LP is Medium Risk. The company often yields to political activism in shaping corporate governance, potentially alienating consumers, dividing employees, and harming shareholders. The company implements race and identity-based policies that replace merit, excellence, and integrity with preferential treatment and outcomes. The company occasionally embraces corporate initiatives that redirect its central focus from business goals to partisan policies and divisive issues at times. This approach fails to safeguard free exercise, free speech, and free enterprise.

Rating Criteria

Corporate Weaponization Risk Levels
Criteria	Risk Level
Cancellations	Medium Risk
Discriminatory Philanthropy	Medium Risk
Employment Protection	High Risk

Corporate Weaponization ⓘ

Corporate Governance and Public Policy Risk Levels
Criteria	Risk Level
Advocacy Bias	High Risk
Funding	High Risk
Political Actions	Lower Risk

Corporate Governance and Public Policy ⓘ

Rating Criteria Detail

Criteria Risk Level Rationale

Corporate Weaponization

Criteria:

Has canceled customers, suppliers, or vendors due to their political views or religious beliefs OR corporately boycotts, divests, or sanctions regions, people groups, or industries.

Risk Level:

Medium

Rationale:

The company is a signatory of the Principles for Responsible Investment, incorporating ESG issues into investment analysis, decision-making, and other business practices (1)(2). Bain Capital integrates ESG into its business practices. From its 2022 ESG Report: “We believe ESG considerations, combined with the right active investment approach, can be an important driver of positive alpha. We actively assess and seek to influence climate change, management, board diversity, ESG transparency, and performance across our core ESG commitments” (3). In 2025, Bain Capital rebranded its ESG framework as a Sustainability framework; despite the rebranding, the underlying divisive corporate policies/practices appear to remain in place (4). The company integrates DEI into its supply chain. From its 2022 ESG Report: “As part of our Private Equity value creation strategy, we strive to improve the diversity of the Board, management team and overall workforce at our portfolio companies. Through ESG blueprinting for new investments, we aim to identify opportunities to partner with company management to determine the current state of DEI and incorporate an action plan to drive improvements” (5). Bain Capital has not publicly canceled customers, suppliers, or vendors based on political views or religious beliefs (6).

Criteria:

Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.

Risk Level:

Medium

Rationale:

Bain Capital likely uses Benevity as its charitable giving platform. Benevity vets charities according to the Southern Poverty Law Center’s Hate List, which includes mainstream libertarian, conservative, family, and religious advocacy organizations (1)(2)(3). Bain Capital does not appear to discriminate against charitable organizations based on views or beliefs (4).

Criteria:

Employment policies fail to protect against viewpoint or other discrimination and/or are ideological in nature.

Risk Level:

High

Rationale:

Bain Capital has implemented unconscious bias training for its employees in 2021 (1). The company appears to prioritize diversity over merit in its recruitment, hiring, leadership composition, and supply chain. From its 2023 ESG Report: “In recent years, we have increased our diversity representation at all levels of our firm, and recognize it’s an ongoing journey to drive better DEI outcomes. Further, we strive to invest with diverse management teams in all our strategies and support diversity, equity, and inclusion across our portfolio companies and investments” (2). Bain Capital does not provide viewpoint protections for its employees (3)(4).

Corporate Governance and Public Policy

Criteria:

Uses corporate reputation to support causes, organizations, or policies hostile to freedom of expression.

Risk Level:

High

Rationale:

Bain Capital set a target to achieve net zero carbon emissions by 2050 and is a Ceres Network Member, committed to carbon neutrality by 2040 (1)(2)(3). The company’s CEO is a signatory to CEOs for Gun Safety (4). Bain Capital CEO, John Connaughton, signed the CEO Action for Diversity & Inclusion pledge, which includes a commitment to promote DEI through bias education training in the workplace, strategize on DEI programs/initiatives with other signatories, and engage boards of directors when developing and evaluating DEI strategies (5)(6). Bain Capital supports DEI within its business practices, employing a DEI Officer (7). In 2026, Bain Capital rebranded its Head of Diversity, Equity, and Inclusion position as Head of Oppertunity and Inclusion; despite the rebranding, the underlying divisive corporate policies/practices appear to remain in place (8). The company supports ESG within its business practices. From its 2022 ESG Report: “As global citizens, we integrate environmental, social and governance (ESG) factors across our firm, businesses and investments to drive lasting impact for our companies, employees, communities and the environment” (9). In 2025, Bain Capital rebranded its ESG language as Sustainability; despite the rebranding, the underlying divisive corporate policies/practices appear to remain in place (10)(11).

Criteria:

Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.

Risk Level:

High

Rationale:

Bain Capital has committed to donating over $100 Million to racial equity and social justice over 10 years (1). The company is a Member of Out Leadership, a global network of LGBT+ business leaders from major companies that seeks to advance LGBTQ+ representation in corporate leadership and integrate LGBTQ+ priorities into workplace strategies. The first LGBTQ+ B-Corporation, Out Leadership accomplishes this through convening leadership summits, directing talent initiatives, and providing advisory solutions that emphasize the positive impact of LGBT+ inclusion for business (2)(3)(4)(5).
Otherwise, there are no publicly known cases of Bain Capital using corporate funds to advance ideological causes, organizations, or policies (6).

Criteria:

Uses corporate political actions and/or financial contributions for ideological, non-business purposes.

Risk Level:

Lower

Rationale:

Bain Capital does not operate a PAC or report on its lobbying at this time (1)(2)(3).