Kristin Williams Mugford

Senior Lecturer of Business Administration

Kristin Mugford is a Senior Lecturer in the Finance Unit at the Harvard Business School where she currently teaches "Creating Value through Corporate Restructuring", an elective course that analyzes how economic stress and restructuring creates challenges and opportunities for businesses and their stakeholders. She previously taught "Venture Capital and Private Equity", an elective course that explores the private equity industry in the United States and abroad. 


In 2013 Kristin retired from her position as Managing Director of Bain Capital, one of the world's leading private investment firms. Bain Capital and its affiliated advisors manage over $70 billion and make private equity, public equity, leveraged debt, venture capital, and absolute return investments across multiple geographies. 

Kristin joined Bain Capital's private equity business in 1994 and at the age of 32, became the first female Managing Director in the firm's history. Kristin helped start Sankaty Advisors, Bain Capital's credit affiliate, and prior to her retirement was responsible for the oversight of Sankaty’s high yield investments and a senior member of Sankaty's management team and investment committee. Sankaty is one of the leading corporate and distressed debt managers, managing over $20 billion with 180 employees in six offices on three continents. Kristin is currently a Senior Director of the firm.  

Kristin began her career at the Walt Disney Company, where she worked in corporate strategic planning and the consumer products division. She graduated from Harvard Business School as a Baker Scholar and holds an AB with honors from Harvard College. 

Cases and Teaching Materials

  1. Harrah's Entertainment

    Paul A. Gompers, Kristin Mugford and J. Daniel Kim

    This case examines the issues of establishing and managing a capital structure for the leveraged buyout of Harrah's Entertainment.

    Keywords: private equity; leveraged buyouts; debt markets; loan contracts; covenants; casinos; gaming; Private Equity; Entertainment and Recreation Industry; United States;


    Gompers, Paul A., Kristin Mugford, and J. Daniel Kim. "Harrah's Entertainment." Harvard Business School Case 213-054, October 2012. View Details
  2. Bain Capital: Outback Steakhouse

    Paul Gompers, Kristin Mugford and J. Daniel Kim

    Bain Capital had purchased Outback Steakhouse in 2007 and despite the myriad initiatives to improve operations, the financial collapse in 2008 threatened the company's ability to meet its loan covenants. Outback's performance steadily declined throughout the year. How should Bain Capital manage the company's debt while improving Outback's performance?

    Keywords: Private Equity; Acquisition; Financial Services Industry; Food and Beverage Industry;


    Gompers, Paul, Kristin Mugford, and J. Daniel Kim. "Bain Capital: Outback Steakhouse." Harvard Business School Case 212-087, February 2012. (Revised November 2012.) View Details