BOSTON–(BUSINESS WIRE)–Bain Capital Credit, LP, a leading global credit specialist, today announced that the firm’s Private Credit Group invested $1.3 billion to support the growth of middle market and private equity-backed companies during the first half of 2023.
Bain Capital Credit’s Private Credit Group invested in 30 businesses across 15 industries in the first half of 2023, supporting the refinancing, leveraged buyout, and add-on acquisition activity of both new and existing portfolio companies. With a track record of investing in middle market private debt dating back 25 years, the Private Credit Group has invested over $20 billion across more than 475 portfolio companies since inception.
Additional first-half 2023 highlights include:
Invested $1.3 billion, including to 16 new platform companies
Served as majority lender on approximately 80% of new commitments
Strong credit performance across our diversified portfolio of ~250 middle market businesses
Supported the launch of Legacy Corporate Lending, a new asset-based lending company focused on serving the needs of middle-market companies across North America
Junior capital investments were made in Second Lien, Holdco PIK, Preferred Equity, and Common Equity
“As many traditional lenders continue to curtail financing activities, it has opened up a greater opportunity set for private lenders as borrowers value certainty of capital, especially during periods of increased volatility,” said Michael Ewald, a Partner at Bain Capital Credit and Global Head of the Private Credit Group. “We are encouraged by our healthy deal pipeline as we continue to execute on our long-standing strategy of sourcing and underwriting attractive middle market investment opportunities.”
Bain Capital Credit’s dedicated Private Credit Group focuses on providing complete financing solutions to businesses with EBITDA between $10 million and $150 million located in North America, Europe and Asia Pacific. The Private Credit Group, which managed approximately $11 billion of capital as of March 31, 2023, has a dedicated global team that enables Bain Capital Credit to diligence the most complex situations and provide flexible private capital solutions to middle market businesses.
About Bain Capital Credit, LP
Bain Capital Credit (www.baincapitalcredit.com) is a leading global credit specialist with approximately $44 billion in assets under management. Bain Capital Credit invests across the credit spectrum and in credit-related strategies, including leveraged loans, high-yield bonds, structured products, private middle market loans and bespoke capital solutions. Our team of more than 95 investment professionals creates value through rigorous, independent analysis of thousands of corporate issuers around the world. In addition to credit, Bain Capital invests across asset classes including private equity, public equity, venture capital and real estate, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus.