Bain Capital Specialty Finance (BCSF) formed Bain Capital Senior Loan Program (SLP). The SLP will provide BCSF with greater balance sheet flexibility to capitalize on senior middle-market loan opportunities to borrowers in North America.
The SLP has total initial capital commitments of $358 million. BCSF has a 50% economic ownership of SLP, with the remaining ownership being held by a credit focused investment manager that advises institutional investors. Both parties will have equal voting control for investment decisions in the SLP.
“The Senior Loan Program will expand BCSF’s investment capabilities and provide the company with greater scale to pursue a wider range of middle market loan opportunities in a competitive environment,” Michael Boyle, president of BCSF, said. “The SLP is expected to increase the earnings of BCSF over time as we identify attractive new investment opportunities to drive value for our shareholders.”
