Bain Capital Specialty Finance has raised close to $850 million since the business development company officially launched in October, the company disclosed in a regulatory filing last week.
The Boston-based mid-market lender, managed by Bain Capital Credit, said it would draw down $118.36 million from the $842.16 million the company has raised so far. The firm disclosed it had raised $546.42 million shortly after it filed its registration statement in early October.
The BDC targets primarily senior positions in the capital stack with a first lien or second lien on collateral, in companies posting between $10 million and $150 million in EBITDA, according to the registration statement. The venture may also invest in mezzanine and other junior debt, along with snapping up debt in the secondary market.