Private Credit Portfolio Analysis | Bain Capital Specialty Finance Reports Q4 2024 Results
- Editor
- Feb 27
- 2 min read
Whats New:
Bain Capital Specialty Finance reported its Q4 2024 financial results, showing growth in total assets and net investment income compared to the previous quarter. The fund's total assets increased to $2.63 billion as of December 31, 2024, up from $2.47 billion at the end of Q3 2024. Net investment income rose to $34.90 million in Q4 from $35.01 million in Q3.
Portfolio Dynamics:
Total assets grew to $2.63 billion as of December 31, 2024, compared to $2.47 billion at the end of Q3 2024.
Investments owned at fair value increased to $2.43 billion, up from $2.30 billion at the end of Q3 2024.
Cash and cash equivalents rose to $51.56 million from $43.00 million at the end of Q3 2024.
Investment Activity:
Receivable from investment sales increased significantly to $37.76 million from $4.31 million at the end of Q3 2024.
Derivative assets grew to $4.69 million from zero at the end of Q3 2024.
Interest receivable increased to $39.16 million from $37.17 million at the end of Q3 2024.
Capital Structure:
Long-term debt increased to $1.39 billion from $1.26 billion at the end of Q3 2024.
Stockholders' equity grew slightly to $1.14 billion from $1.14 billion at the end of Q3 2024.
Total liabilities increased to $1.49 billion from $1.34 billion at the end of Q3 2024.
Performance Profile:
Net asset value per share decreased slightly to $17.65 as of December 31, 2024, compared to $17.76 at the end of Q3 2024.
Net investment income for Q4 2024 was $34.90 million, down slightly from $35.01 million in Q3 2024.
Gross investment income for Q4 2024 was $73.34 million, up from $72.54 million in Q3 2024.
Risk & Quality:
Incentive fee payable decreased to $4.70 million from $7.33 million at the end of Q3 2024.
Management fee payable increased slightly to $9.16 million from $8.93 million at the end of Q3 2024.
Accounts payable and accrued liabilities increased to $14.77 million from $9.58 million at the end of Q3 2024.
The Wrap:
Bain Capital Specialty Finance demonstrated moderate growth in Q4 2024, with increases in total assets, investments at fair value, and gross investment income. However, the fund experienced a slight decrease in net asset value per share and net investment income compared to the previous quarter. The increase in long-term debt and accounts payable suggests higher costs associated with the fund's expanded operations and investment activities.
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