The performance of distressed debt funds helped private debt performance improve in Q3 2016 after a ‘rough’ 2015.
The global asset manager has raised $2.5bn for its fourth distressed fund, which is more than triple the predecessor vehicle.
The biggest BDC got even larger this quarter, and its capital cushion shows it.
View the latest capital raises
The mid-market lending arm of Bain Capital Credit will draw down almost $120m in capital.
The BDC showed a relative drop in Q4 originations while increasing its net asset value per share.
The bank, together with European partners, has secured funding and appointed managers to oversee a Northern-UK focused debt and equity fund.
Bain has acquired the platform as part of its plans to acquire distressed debt assets in the country and is open to the possibility of originating loans in the country in future.
The extra money will go, in part, toward building out a partnership
with Varagon Capital Partners.
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