Bain uses rights offerings as unusual route to raise cash for BDC
Bain Speciality Finance is looking to raise additional capital through a rights offering to “further strengthen its balance sheet” and “provide additional flexibility to support existing portfolio companies over the coming months”, chief executive officer Michael Ewald said in an open letter to shareholders on Monday

Bain garners $973 million for middle market fund
Bain Capital Credit has garnered $973.4 million its latest US direct lending mezzanine strategy, Bain Middle Market Credit 2018

Los Angeles pension fund narrows down global direct lending search to four managers
Los Angeles City Employees Retirement System (Lacers) has listed the finalists for a private credit mandate, according to an agenda document seen by Creditflux.  

Bain plans $3 billion distressed fund with US pension fund eyeing commitment
Pennsylvania Public School Employees Retirement System (PSERS) is set to invest $200 million to Bain Capital Distressed and Special Situations 2019 (DSS 19) fund, according to documents seen by Creditflux.  

Owl Creek turns heads to special situations with new fund
The firm joins several other distressed investors preparing to take advantage of a potential downturn

Bain BDC wins leverage approval from shareholders
Bain Capital Speciality Finance has won shareholder approval to double the amount of leverage it can use 

Bain looks to go public with $1.3 billion BDC
Boston-based Bain Capital Credit is going public with its $1.3 billion business development company with an initial public offering

HarbourVest adds managing director to private credit team
HarbourVest Partners has strengthened its private credit team with the appointment of a former Bain Capital Credit official 

Bain targets $500 million for CLO-focused vehicle
Bain Capital Credit is targeting $500 million for its CLO-focused vehicle, Bain Capital Credit CLO Management, according to sources familiar with the situation

Boston manager looks towards middle market for latest credit fund
Bain Capital Credit has launched its middle market credit fund, according to US regulatory filings 

Bain raises at least $239 million for structured credit fund
Credit specialist Bain Capital Credit has raised at least $239.5 million for its structured credit fund , according to US SEC filings.

Kirkland brings in Bain lawyer as partner
Global law firm Kirkland & Ellis has added Bain Capital's in-house counsel Ranesh Ramanathan as corporate partner

Los Angeles pension fund looks to renew US loans relationship with Bain
A $15.7 billion Los Angeles pension fund is looking to renew its contract with Bain Capital Credit, according to investment committee board documentation

Bain swoops for another portfolio in Italy
Bain Capital Credit has acquired yet another portfolio of assets from a European bank

Antares teams up with Bain for direct lending after LStar JV ends
The joint venture, to be named the Antares Bain Capital Complete Financing Solution, replaces Antares’ previous unitranche product, Middle Market Growth Program

Bain rebrands Dublin unit and applies for management license in Ireland
Dublin-based Broadhaven Credit Partners - launched as a JV between Bain and financier Dermot Desmond - will now operate as Bain Capital Credit

Bain takes new route to NPL acquisitions as it strikes deal with Liberbank
Bain, Oceanwood and Liberbank are taking part in an unusual NPL deal referencing €602 million of assets

Fund managers refocus sights on Italy in pursuit of NPL portfolios
Distressed debt specialists are shifting their attentions from one part of southern Europe to another, according to market sources

Griffin shifts BDC assets to credit fund managed by Bain
Griffin Capital Company has shifted assets from its Capital BDC into a closed-end credit fund, dropping Benefit Street Partners as subadvisor to those assets in the process

Former Bain credit specialist joins North Wall as partner
North Wall added former Bain credit specialist Alexander Garnier to its ranks earlier this summer

Bain Capital raises $557 million for Asia credit fund
Bain Capital has held the first close of its Asia credit fund, known as Bain Capital Special Situations Asia – and has already raised $557 million for the fund

Bain buys Italian loan book to make it 17 NPL portfolio acquisitions
Bain Capital Credit’s European team has now invested over €2.2 billion in non-performing loan portfolio acquisitions since 2011

Bain adds almost €1 billion of Iberian non-performing loans to its AUM
Bain Capital Credit has announced that it has bought its first portfolio of non-performing loans in Portugal as well as making its ninth such acquisition from a Spanish bank

HSBC partners with Bain for landmark unitranche loan to UK firm
Bain Capital Credit and HSBC have partnered to extend a unitranche loan to environmental services firm Adler & Allan - the first deal of its kind for HSBC

Popular shortlists Apollo, Oaktree, BAML and Bain for rapid NPL sale
Spain’s Banco Popular is in talks with Apollo, Oaktree, Bank of America Merrill Lynch and Bain Capital about selling a portfolio of non-performing loans, according to Spanish newspaper Expansión