Bain Capital Specialty Finance, Inc. Surveillance Report
Company Profile
Formed in October 2015 as a Delaware corporation, Bain Capital Specialty Finance, Inc. (NYSE: BCSF or “the company”) elected to be treated as a business development company (“BDC”) and commenced investment operations in October 2016. BCSF is an externally managed, non-diversified investment management company headquartered in New York, NY, qualifying annually as a regulated investment company (“RIC”) for federal tax purposes. BCSF began trading on the NYSE in November 2018.
The company is externally managed by BCSF Advisers, LP (“Adviser”), a subsidiary of Bain Capital Credit (“BCC”), an asset manager focused on private credit strategies. BCC is wholly owned by Bain Capital, LP (“Bain Capital”), founded in 1984 and had $215+ billion in AUM as of 4Q25.
Key Credit Considerations
The ratings and Stable Outlook are supported by BCSF’s ties to the ~$61 billion Bain Capital Credit ("BCC") credit platform, including ~$21 billion dedicated…
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