Bain Capital Credit Fund Exceeds $1 Billion in Middle Market Fundraising

Bain Capital Credit Fund has successfully raised over $1 billion in its middle market fundraising efforts. This achievement is a testament to the fund's strong reputation and investor confidence in its investment strategy.

The fund's ability to exceed the $1 billion mark is a significant milestone, demonstrating its appeal to investors seeking high-quality middle market debt investments.

Bain Capital Credit has a significant track record of investments and exits. Their latest portfolio exit was in October 2024, when Precinmac was acquired by Centerbridge Partners for $XXM.

Bain Capital Credit has made several notable exits in recent years, including two IPOs in 2022 and 2021. These exits demonstrate the fund's ability to identify and capitalize on opportunities in the market.

Here are the details of Bain Capital Credit's portfolio exits:

Bain Capital Credit's Middle Market Credit 2022 fund closed with over $1 billion in commitments, a significant milestone in the company's history of investing in the middle market.

The fund, part of Bain Capital's flagship strategy, focuses on investing across the capital structure, including mezzanine or subordinated debt tranches, second lien debt, preferred and equity investments, and senior debt investments.

Bain Capital Credit's Private Credit Group manages approximately $11 billion of capital and has a dedicated global team that enables the company to diligence complex situations and provide flexible private capital solutions to middle market businesses.

The company's 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.

Here are some key facts about Bain Capital Credit's Middle Market Credit 2022 fund:

Bain Capital Credit's experience in investing across economic cycles and its flexible capital base make it an attractive partner for sponsors and management teams in the current high interest rate environment.

Bain Capital Credit has a notable track record of portfolio exits, with a total of 6 exits listed in the provided data. One of their latest exits was Precinmac, which occurred on October 14, 2024.

The valuation of Precinmac's exit was a significant $XXM, acquired by Centerbridge Partners. This exit was categorized as an Acq - Fin - II.

Bain Capital Credit's portfolio exits span a range of exit types, including IPOs and mergers. The data reveals that two of the exits were IPOs, occurring on November 11, 2022, and November 3, 2021, respectively.

The acquirers of these IPOs are unfortunately not specified in the data. However, we do know that the valuation for both of these exits was $XXM.

The exit types and dates are listed below:

Bain Capital Credit has a total of 22 funds, including the Bain Capital Mid-Market Credit 2022 Fund.

One of the funds, Bain Capital Mid-Market Credit 2022 Fund, closed on January 19, 2024, with an amount of $1,000 million.

Bain Capital Credit also has a fund called Bain Capital Credit CLO Management II, which closed on January 10, 2023, with an amount of $650 million.

Another notable fund is Bain Capital Credit Global Distressed and Special Situations III, which closed on June 17, 2020, with a substantial amount of $3,200 million.

The sources for the fund information vary, with some funds having multiple sources (2 or 10) and others having a single source (1).

Here's a breakdown of some of the funds:

Bain Capital Credit Fund has partnered with various organizations to provide financing solutions. One notable partnership is with the private equity firm, Bain Capital.

Their investment strategies are often compared to those of other credit funds, such as the ones managed by KKR, Blackstone, and Carlyle Group. These firms have a similar focus on providing financing to middle-market companies.

Bain Capital Credit Fund's investment approach is also similar to that of Apollo Global Management, which also focuses on providing financing to middle-market companies.

Bain Capital Credit has a diverse range of partners and customers, including iCapital Network, which they partnered with on April 4, 2024, to expand wealth managers' access to alternative investments.

Some of their notable partners include Marriott International and Omnam Group, with whom they partnered in 2022 to bring the EDITION Hotels brand to Italy's Lake Como.

Bain Capital Credit also partnered with Atlas Air Worldwide in 2022 to support Amerijet International Inc.'s network in Central America and the Caribbean.

Their vendor partners include Linklaters, with whom they worked in 2021, and iCapital Network, with whom they partnered in 2024.

Here's a breakdown of some of Bain Capital Credit's partners and customers:

Note that Cedar Hill, a private investment firm, and Taixing Zhongxing State-owned Assets Management and Investment, a state-owned assets management company, are not listed as partners or customers of Bain Capital Credit in the provided article section facts.

Let's take a closer look at how Bain Capital Credit stacks up against its competitors. Golub Capital is a direct lender and private credit asset manager that focuses on delivering financing solutions and managing credit assets.

Golub Capital offers a range of services, including sponsor finance, middle market lending, broadly syndicated loans, and structured products. It primarily serves the private equity and investment sectors with tailored financial products and asset management services.

Bain Capital Credit has its own set of services, but Golub Capital's focus on direct lending and private credit asset management makes it a notable competitor.