Bain Capital’s private credit unit reveals uptick in investment activity
Bain Capital’s private credit group invested $1.8bn (£1.4bn) over the first half of 2024 – almost as much as it invested across the entirety of 2023.
The alternative asset manager made 43 investments across 21 industries in the first six months of this year, supporting the refinancing, leveraged buyout and add-on acquisition activity of middle market and private equity-backed companies.
22 out of the 43 investments were new portfolio companies.
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Additionally, the firm’s private credit group closed over $1bn of new capital for investments over the period.
The first-half update indicates substantial growth from last year, when $2bn was invested in 58 businesses over the whole 12 months.
“Our global and long-standing presence in the core middle market, combined with our strong focus and expertise across key industries, including technology and software, business services, and aerospace and defence, enables us to generate an active deal pipeline while remaining highly selective in our investments,” said Michael Ewald, a partner and global head of the private credit group.
“While the private credit market continues to experience significant growth as many private lenders have moved up market, we continue to see attractive opportunities to source and underwrite investment opportunities in the core middle market and serve as a value-added capital provider and business partner to growing businesses.”
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Bain’s private credit group focuses on providing financing solutions to firms with EBITDA ranging between $10m and $150m in North America, Europe and Asia Pacific.
The private credit group managed over $13bn of capital as of 31 March 2024.
