Bain Capital Credit, the firm’s global credit business with $45bn in AUM, has closed its latest debt vehicle, Bain Capital Middle Market Credit 2022 (MMC 22), with commitments totalling more than $1bn, according to the Wall Street Journal.
MMC 22, Bain Capital Credit’s fourth fund in its private credit strategy, is intended to provide flexible, junior debt to middle market companies with EBITDA between $25m to $75m, located across the US, Europe, Australia and New Zealand.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
The fund, which has so far backed five businesses and expects to add another 50 to its roster, attracted commitments from endowments, foundations, pension funds, family offices and HNWIs.
In a statement, Michael Ewald, Partner and Global Head at Bain Capital, said: “As the high interest rate environment has constrained traditional senior lenders, we are seeing more opportunities for thoughtful, tenured lenders that can provide differentiated financing solutions.”
The firm’s predecessor fund, Bain Capital Middle Market Credit 2018, closed with $975m in 2019.
Source: Private Equity Wire
Can’t stop reading? Read more
UBS sells $11bn O’Connor platform to Cantor Fitzgerald in major hedge fund reshuffle
UBS sells $11bn O’Connor platform to Cantor Fitzgerald in major hedge fund reshuffle Cantor...
TPG and Blackstone offer $16bn to take Hologic private in major healthcare bid
TPG and Blackstone offer $16bn to take Hologic private in major healthcare bid TPG and Blackstone...
Eurazeo targets GovTech expansion with majority stake in 3P
Eurazeo targets GovTech expansion with majority stake in 3P Eurazeo has entered exclusive...