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Bain Capital Private Credit Reports December Special Distribution

By Mari Nicholson

Bain Capital Private Credit Reports December Special Distribution

Bain Capital Private Credit, a perpetual life, non-traded business development company, announced a special distribution for December 2025, a total net asset value of $860.2 million as of Nov. 30, and additional updates on its $1.5 billion investment portfolio.

The announcement highlighted both regular and special distributions for shareholders of record as of Dec. 31, 2025. The BDC’s board declared two separate distributions for Class I common shares: a regular distribution of $0.1875 per share and a special distribution of $0.03 per share.

The payment day for both distributions will be on or about Jan. 30, 2026; shareholders may receive cash or reinvest in additional shares through the fund’s distribution reinvestment plan, or DRIP.

In addition, the fund’s most recent aggregate NAV of $860.2 million was an approximate 0.54% increase from its prior Oct. 31 aggregate NAV of $855.6 million. The fair value of its investment portfolio was approximately $1.506 billion, its principal debt outstanding was $693.1 million, and its debt-to-equity ratio was approximately ~0.81x (net debt-to-equity of 0.77x).

The fund also reported a NAV per share of $25.94 for Class I shares as of Nov. 30, a minor 0.04% increase from Oct. 31’s $25.93 NAV.

The BDC continues to maintain a highly diversified and senior-secured posture. As of Nov. 30, the portfolio consisted of 144 companies across 26 different industries.

The portfolio breakdown by investment type was:

  • First lien senior-secured debt: 88%;
  • Second lien senior-secured debt: 1%;
  • Subordinated debt: 6%;
  • Common and preferred equity: 3%; and
  • An investment vehicle: 2%.

Notably, 93% of the fund’s debt investment portfolio is floating rate, positioning it to remain responsive to interest rate fluctuations.

The Bain BDC is currently publicly offering on a continuous basis up to $2 billion in shares. As of Dec. 29 (through the Dec. 1, 2025, subscription date, the fund had issued 35.87 million Class I shares for a total of approximately $916.9 million. The fund intends to continue selling shares on a monthly basis.

Over the summer, Jessica Yeager recently resigned from her position as vice president of the BDC. The BDC’s board appointed Adriana Rojas Garzón as VP, effective June 30, 2025.

As previously reported by AltsWire, Bain Capital Private Credit was launched by Bain Capital Credit LP, a leading global credit specialist, in February 2023. The BDC offers access to income-producing investments in middle-market companies that have historically been available mostly to institutional investors. Bain Capital Credit has been an investor in the middle-market since its founding in 1998.

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