Ted Pappendick is leaving as head of Bain Capital’s hedge fund unit and will be replaced by a veteran money manager who had worked at Adage Capital and Och-Ziff Capital Management Group, according to two people with knowledge of the matter. Joshua Ross, who left Adage this year, will take over the post next month, according to the people, who asked not to be named because the information is private. Pappendick will remain...