The Boston-based fund’s portfolio spans 164 companies across 28 industries, with 92% of debt holdings carrying floating rates.

May 1, 2026

Bain Capital Private Credit announced its April 2026 cash distribution and offered a fresh look at its net asset value and portfolio composition in a current report dated April 29, 2026.

Distribution Details

The Boston-based fund declared a regular distribution of $0.1875 per Class I common share. Because no shareholder servicing or distribution fees were deducted, the net distribution matches the gross figure at $0.1875 per share. Shareholders of record as of April 30, 2026 will receive the payout on or around May 29, 2026, either in cash or as reinvested shares through the fund’s distribution reinvestment plan.

Net Asset Value and Leverage

As of March 31, 2026, the fund reported the following key metrics:

• NAV per Class I Share: $25.83
• Aggregate NAV: approximately $1,005.8 million
• Investment portfolio fair value: approximately $1,815.1 million
• Principal debt outstanding: $1,048.0 million
• Debt-to-equity ratio: approximately 1.04x
• Net debt-to-equity ratio: approximately 0.80x (after accounting for cash and unsettled trades)

Portfolio Composition

The fund held positions in 164 portfolio companies spanning 28 industries at quarter-end. By fair value, the holdings broke down as follows:

• 86% in first lien senior secured debt
• 1% in second lien senior secured debt
• 6% in subordinated debt
• 2% in preferred equity
• 2% in common equity
• 3% in an investment vehicle

Roughly 92% of the debt portfolio carried floating rates, helping insulate the fund from interest rate volatility while keeping it positioned to capture yield in rate-sensitive markets.

Shares Outstanding

Through the April 1, 2026 subscription date, the fund had issued 40,719,394 Class I Shares, generating total consideration of approximately $1,042.6 million.

Industry Context

The update arrives at a moment of heightened attention on private credit, as larger industry players have grappled with redemption pressure and tighter regulatory scrutiny in recent months. The fund’s heavy tilt toward floating-rate, senior secured loans aligns with strategies favored by investors seeking credit exposure with reduced rate risk — a trend that has helped the broader evergreen private credit category continue drawing capital even as turbulence persists elsewhere in the asset class.