Bain Capital Specialty Finance ( (BCSF) ) has released its Q3 earnings. Here is a breakdown of the information Bain Capital Specialty Finance presented to its investors.
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Bain Capital Specialty Finance, Inc. is a specialty finance company dedicated to lending to middle market companies, managed by BCSF Advisors, LP, a subsidiary of Bain Capital Credit, LP. The company is regulated as a business development company under the Investment Company Act of 1940.
In its latest earnings report for the quarter ended September 30, 2024, Bain Capital Specialty Finance posted strong financial results. The company declared a fourth-quarter dividend of $0.42 per share and an additional dividend of $0.03 per share. The company’s CEO, Michael Ewald, highlighted the strong earnings driven by high net investment income and net asset value growth.
Key financial metrics for the quarter included a net investment income per share of $0.53, a net income per share of $0.51, and a net asset value per share of $17.76. The company achieved gross investment fundings of $413.1 million and net investment fundings of $165.1 million. Despite an increase in net debt-to-equity ratio to 1.09x, the company maintains a healthy credit performance with investments on non-accrual representing a small fraction of the portfolio.
Looking ahead, Bain Capital Specialty Finance remains optimistic about its ability to seize attractive investment opportunities. The company continues to leverage its global presence and expertise in the middle market to drive growth and deliver value to its shareholders.
