Bain Capital Specialty Finance Inc. has formed a joint venture with Pantheon, a private credit business, a global alternative private markets manager, to provide private direct lending solutions to middle market borrowers primarily across Europe and Australia.
The joint venture will invest through the International Senior Loan Program LLC. BCSF and Pantheon have agreed to contribute capital, subject to the terms of their agreement, to purchase equity interests in ISLP. The equity ownership of ISLP is expected to be approximately 70.5% for BCSF and approximately 29.5% for Pantheon, with investment decisions requiring approval by representatives of both BCSF and Pantheon.
“Bain Capital Credit has had a global lending presence for over 15 years. Our partnership with Pantheon is a natural extension of our middle market lending expertise and scale and will allow us to further expand BCSF’s reach and capabilities into Europe and Australia — markets where we continue to see attractive growth opportunities — while driving long-term value to our shareholders,” said Michael Ewald, chief executive officer of BCSF