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Antares, Bain Capital Credit Form Unitranche Joint Venture

December 04, 2017, 07:49 AM
Filed Under: Joint Venture

Antares Capital LP and Bain Capital Credit 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”).

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