Steve Pagliuca

Steve Pagliuca
Birthplace	United States
Nationality	American
Occupation	Private equity executive, sports owner
Employer	Bain Capital
Known for	Co-Managing Partner of Bain Capital; co-owner of the Boston Celtics

Stephen G. Pagliuca is an American private equity executive and sports team owner who served as Co-Managing Partner of Bain Capital, one of the world's largest alternative investment firms with over $160 billion in assets under management. He is also known as a longtime co-owner of the Boston Celtics of the National Basketball Association (NBA), a role in which he was involved with the franchise through its 2008 NBA Championship and subsequent years of competitive success. In August 2025, a group led by Pagliuca reached a deal to purchase the Connecticut Sun of the Women's National Basketball Association (WNBA) for a reported record $325 million. Pagliuca's career at Bain Capital has spanned several decades, during which the firm grew from a mid-sized private equity operation into a global financial institution. Beyond business and sports, he has been involved in civic and philanthropic activities and briefly entered the political arena. In January 2026, he appeared at the World Economic Forum in Davos, Switzerland, speaking to Bloomberg Television in his capacity as a Boston Celtics co-owner and Bain Capital Private Equity Senior Advisor.

Career

Bain Capital

Pagliuca built his career at Bain Capital, the Boston-based alternative investment firm founded in 1984. He rose through the ranks to become Co-Managing Partner of the firm, which grew to manage over $160 billion in assets under management across private equity, credit, public equity, venture capital, and other investment strategies. The firm became one of the most prominent private equity operations in the world during his tenure.

By 2025, Pagliuca's role at Bain Capital had transitioned. Reports from that year and into 2026 describe him as a "Senior Advisor" to Bain Capital Private Equity, suggesting he had moved from day-to-day management responsibilities into an advisory capacity. Earlier reports from 2025 also referred to him as the "former co-chairman of Bain Capital," indicating his formal leadership role at the firm had concluded by that time.

Boston Celtics ownership

Pagliuca was a co-owner of the Boston Celtics, one of the most storied franchises in professional basketball. His ownership stake in the team placed him among the leadership group that oversaw the Celtics during a period that included the team's 2008 NBA Championship. Various news reports from 2025 described him as a "former" co-owner or co-chairman of the Celtics, while others continued to identify him as a minority owner, reflecting a transition in his ownership stake in the franchise.

In January 2026, Pagliuca appeared at the World Economic Forum in Davos, where he was identified as "Boston Celtics Co-Owner and Bain Capital Private Equity Senior Advisor" by Bloomberg Television, indicating he retained at least a partial ownership interest in the franchise at that time.

The distinction between his roles appeared to stem from changes in the Celtics' ownership structure. By mid-2025, reports referenced a "new Celtics owner" named Chisholm in the context of a potential partnership brokered by Massachusetts Governor Maura Healey, suggesting a controlling ownership transition had occurred.

Connecticut Sun acquisition bid

In August 2025, a group led by Pagliuca reached a deal to purchase the Connecticut Sun, a WNBA franchise owned by the Mohegan Tribe, for a reported $325 million. The price was described as a record for a WNBA team. The proposed deal included plans to relocate the Sun from Connecticut to Boston, which generated significant public attention and political involvement.

However, the deal was not immediately approved by the WNBA. As of August 3, 2025, NBC Boston reported that the acquisition had "not yet been approved" by the league, introducing uncertainty about whether the transaction would proceed as announced.

The proposed acquisition drew the involvement of Massachusetts Governor Maura Healey, who sought to broker a partnership between Pagliuca and the new Celtics owner, identified as Chisholm, for the Sun franchise. The Sports Business Journal reported on August 21, 2025, that the governor was "aiming to partner Pagliuca, Chisholm for WNBA's Sun," suggesting that the ownership structure and relocation plans were still being negotiated.

The bid reflected the rapidly escalating valuations of WNBA franchises during a period of heightened interest in women's professional basketball. The reported $325 million purchase price represented a substantial premium compared to earlier WNBA team transactions and underscored the league's growing commercial profile.

Other business activities

Pagliuca has been a participant in global economic discussions, as evidenced by his appearance at the World Economic Forum in Davos, Switzerland, in January 2026. There, he spoke to Bloomberg Television's Jonathan Ferro about topics related to his roles as a sports owner and investment professional.

Personal Life

Pagliuca maintained a residence in Boston's Back Bay neighborhood for a number of years. In October 2025, he listed his historic mansion in Back Bay for sale at just under $11 million. The property, described as approximately 135 years old, was a notable residence in one of Boston's most prestigious neighborhoods.

The mansion sold in December 2025 for $11.5 million. The buyer was identified as Ron Sargent, the interim CEO of Kroger and former CEO of Staples.

The sale of the Boston property, combined with his described status as a "former" Celtics co-owner in several reports, suggested a broader transition in Pagliuca's relationship with Boston, though his continued involvement with the Celtics as a co-owner and his bid to bring a WNBA team to the city indicated ongoing ties to the area.

Recognition

Pagliuca's prominence in the business world has been reflected in his invitations to speak at major global forums. His appearance at the 2026 World Economic Forum in Davos placed him among a select group of business leaders, investors, and policymakers who convene annually to discuss global economic and social issues.

His leadership of the record-setting $325 million bid for the Connecticut Sun in 2025 drew national media coverage from outlets including NBC, Bloomberg, the Sports Business Journal, and others, highlighting his profile at the intersection of sports business and private equity.

Pagliuca's involvement with the Boston Celtics during a period that included an NBA Championship further contributed to his public recognition. The franchise's success during his ownership tenure cemented his reputation as a significant figure in professional sports ownership.

His career at Bain Capital, where the firm grew to manage over $160 billion in assets, established him as one of the more prominent figures in the American private equity industry. The firm's scale and influence under his co-leadership placed him among the senior ranks of global finance.