Bain Capital Private Credit 8-K

What Happened

• Bain Capital Private Credit filed a Form 8-K (Items 7.01 and 8.01) on April 29, 2026. The Fund declared a regular distribution for Class I shares of $0.1875 per share, payable on or about May 29, 2026 to shareholders of record as of April 30, 2026. Shareholders may receive the distribution in cash or via reinvestment under the Fund’s distribution reinvestment plan.
• The Fund reported its net asset value (NAV) per Class I share as of March 31, 2026 of $25.83. Aggregate NAV was $1,005.8 million, the fair value of the investment portfolio was $1,815.1 million, and principal debt outstanding was $1,048.0 million.

Key Details

• Distribution: Class I gross and net distribution $0.1875 per share; no shareholder servicing/distribution fee; record date April 30, 2026; payment on/about May 29, 2026.
• NAV and balance sheet (as of March 31, 2026): NAV per Class I share $25.83; aggregate NAV $1,005.8M; portfolio fair value $1,815.1M; principal debt outstanding $1,048.0M.
• Leverage: debt-to-equity ratio ~1.04x; net debt-to-equity (debt less cash/unsettled trades) ~0.80x.
• Portfolio composition: $1,815.1M across 164 portfolio companies in 28 industries; by fair value — 86% first lien senior secured debt, 1% second lien, 6% subordinated debt, 2% preferred equity, 2% common equity, 3% investment vehicle; 92% of debt investments are floating rate.
• Shares outstanding (through April 1, 2026 subscriptions): Class I — 40,719,394 shares; total consideration $1,042.6M.

Why It Matters

• Income: The declared distribution provides a near-term cash (or reinvestment) payment to shareholders; Class I investors will receive $0.1875 per share on the stated record and payment dates.
• Financial position and risk: The reported NAV, portfolio fair value, and leverage metrics give investors a snapshot of the Fund’s size and indebtedness. A debt-to-equity ratio around 1.04x (net ~0.80x) indicates meaningful use of leverage.
• Interest-rate sensitivity: With 92% of the Fund’s debt investments floating-rate, interest income and portfolio yields are likely to move with market interest rates, which is relevant for income expectations and risk assessment.
• Portfolio diversification: Investments span 164 companies across 28 industries, and the portfolio is heavily weighted toward first-lien senior secured debt (86% by fair value), indicating a focus on higher-priority credit positions.