Bain Capital Credit Closes $1B Mid-Market Fund

Bain Capital Credit LP, Bain Capital’s credit arm, has closed Bain Capital Middle Market Credit 2022 (MMC 22) with over $1 billion in total commitments, to leverage the current environment of higher interest rates.

MMC 22 is the latest and fourth vintage fund within Bain Capital Credit’s flagship strategy for investing in middle market businesses across the capital structure, including mezzanine or subordinated debt tranches, second lien debt, preferred and equity investments and senior debt investments.

Bain Capital Credit focuses on providing complete financing solutions to businesses with EBITDA between $10 million and $150 million in North America, Europe and Asia Pacific.

“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,” says Michael Ewald, a partner and global head of the private credit group.

The private credit group was managing about $11 billion at the end of September 2023, while Bain Capital Credit has about $45 billion of assets under management.