Bain Capital Credit 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.