Bain Capital Specialty Finance, Inc.

Bain Capital's credit group runs this middle-market lender, which came public on the NYSE in November 2018. Its adviser, BCSF Advisors, sits inside Bain Capital Credit, and the mandate is direct lending: originating first-lien, unitranche and second-lien debt for private US companies, plus a smaller sleeve of equity and joint-venture stakes. The point of the structure is income. As a business development company it must distribute most of its earnings, so shareholders own it chiefly for the dividend, which the floating-rate loan book feeds. What separates one BDC from another is credit discipline and the deal flow its parent can source, and Bain Capital Credit's global platform is the pitch here. The standing risk is the borrower base, smaller companies whose defaults would show up quickly in net asset value.

On MyRWA, BCSF trades tokenized across 1 on-chain venue - see the listings below.