Wed, Aug 14, 9:07 PM (153 days ago)
As of June 30, 2024, Bain Capital Private Credit reported significant growth in its financial performance compared to the previous year. Total assets increased to $366.7 million from $223.7 million, primarily driven by a rise in investments at fair value, which reached $344.5 million. The net asset value per share rose to $25.40, up from $24.88 at year-end 2023. For the second quarter, the company generated $10.1 million in investment income, primarily from interest on non-controlled investments, leading to a net investment income of $4.4 million, a substantial increase from a loss of $0.4 million in Q2 2023. Total expenses were $5.6 million, reflecting higher management fees and operational costs. The company utilized leverage effectively, with total debt increasing to $194.8 million, resulting in an asset coverage ratio of 183.9%. The portfolio remains predominantly in floating-rate loans, which constitutes 94.8% of total debt investments. Looking ahead, Bain Capital Private Credit aims to continue capitalizing on middle-market lending opportunities, although uncertainties in the economic environment may impact future operations.