CHICAGO & BOSTON–Antares Capital LP (“Antares”) and Bain Capital Credit (“Bain Capital”), today announced the formation of a joint venture providing a unified, private lender solution to private equity backed middle market borrowers.
The joint venture, which will be marketed as the Antares Bain Capital Complete Financing Solution (“ABCS”), provides private equity sponsors and borrowers with access to first lien unitranche loans of up to $350 million in a single transaction. Without the requirement of agency meetings or a syndication process, the Antares and Bain Capital unitranche offering delivers capital with speed and certainty.
“We’ve worked closely with Bain Capital for many years and are pleased to formalize a collaboration through the formation of this new joint venture,” said Timothy Lyne, senior managing director for Antares. “Bain Capital brings deep expertise across a range of industries and a demonstrated, long-standing commitment to middle market private lending. This JV is the next evolution in our long history of offering customers unitranche loans as part of a range of flexible financing options to meet their needs.”
“Bain Capital Credit has been a lender to middle market companies for nearly 20 years, financing leveraged buyouts, recapitalizations and funding other corporate needs,” said Michael Ewald, a managing director of Bain Capital. “In today’s market, there is an opportunity for private lenders to play an even larger role in financing underserved, growing businesses, and we are pleased to partner with Antares in further serving this market and expanding our capabilities.”
The joint venture between Bain Capital and Antares replaces Antares’ previous unitranche product, the Middle Market Growth Program (“MMGP”).
About Antares Capital
Antares Capital is a credit manager and leading provider of financing solutions for middle-market, private equity-backed transactions. Offices are located in Atlanta, Chicago, Los Angeles, New York, Norwalk and Toronto. Antares issued more than $18 billion in financing during 2016, and was named 2017 Lender of the Year by ACG NY and 2015 Dealmakers of the Year by Mergers & Acquisitions. Visit us at www.antares.com or follow Antares Capital on Twitter at https://www.twitter.com/antarescapital. Antares Capital is a subsidiary of Antares Holdings LP.
About Bain Capital Credit
Bain Capital Credit (www.baincapitalcredit.com), founded as Sankaty Advisors in 1998, invests up and down the capital structure and across the spectrum of credit strategies, including leveraged loans, high-yield bonds, distressed debt, private lending, structured products, non-performing loans and equities. Our team of more than 200 professionals creates value through rigorous, independent analysis of thousands of corporate issuers around the world. In addition to credit, Bain Capital invests across asset classes including private equity, public equity and venture capital, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus. Bain Capital Credit's dedicated Private Credit Group focuses on providing complete financing solutions to businesses with EBITDA between $10 million and $100 million located in North America, Europe and Asia Pacific. Our dedicated global team affords us the ability to diligence the most complex situations and provide private capital to those companies.