Bain Capital Credit Raises $650 Million for CLO Equity Fund

Bain Capital Credit has closed a roughly $650 million fund that aims to invest in the riskiest portions of the firm’s own collateralized loan obligations, easing the sometimes arduous process of placing the debt with third parties.

The investment management company closed the fund on Dec. 7, with roughly $100 million of the commitments coming from Bain professionals and related entities. The capital will be put into the riskiest portions of CLOs, known as equity, for transactions managed by Bain Capital Credit. The securities will be backed by loans from the US or Europe. The fund expects to target ...