Bain Capital Credit revealed that its Private Credit Group has supported private equity-backed companies to the tune of $2.4 billion in the first half of this year.
The $9 billion Private Credit Group has a dedicated global team that allows Bain Capital Credit to diligence the most complex situations and provide flexible private capital solutions to middle market businesses. The unit offers financing solutions to businesses with EBITDA between $10 million and $150 million located in North America, Europe and Asia Pacific.
“Our strong sourcing network and diversified deal pipeline has allowed us to maintain our selectivity and discipline when choosing which new investment opportunities to capitalize on,” said Michael Ewald, a managing director at Bain Capital Credit and global head of the Private Credit Group, in a statement.
He added that the team remains committed to the core mid-market and companies with $25 million to $75 million in EBITDA.
“We look forward to continuing to be a partner of choice for high-performing, growth oriented mid-market and private equity-backed companies,” he said.
In the first six months of 2022, the firm said it has invested in more than 100 distinct portfolio companies, including 29 new platforms. The lending was done to support the refinancing, leveraged buyout and add-on acquisition activity of both new and existing portfolio companies.
Bain was a lead lender on 70% of the new commitments and closed on over $1.5 billion of new capital for investments. Officials also reported strong credit performance across its existing portfolio of roughly 200 middle market businesses.
