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Bain Capital will step up its hunt for Australian credit, distressed debt and structure equity investments.

Bain Capital has acquired a 20 per cent stake in Australian vehicle and equipment financier Allied Credit, in a deal designed to help it emerge as a major player in the changing dealer finance and auto loans market. 

Save Share “Virgin has a great management team led by Paul Scurrah,” Bain Capital's Mike Murphy told the airline's 9000 staff on August 24. “And I would like to again reaffirm we are backing Paul to successfully lead Virgin through the current turbulence and back into the skies." It was Murphy's big pitch to seal the biggest deal of his career – a $3.5 billion agreement to buy Virgin Australia out of administration. He had beaten four other bidders to get a signed deal, had tipped $125 million interim funding to keep the airline afloat and was already on the hook for at least another ...