Bain Capital Specialty Finance, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2020
November 05, 2020 at 04:41 pm EST
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Bain Capital Specialty Finance, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2020. For the quarter, company reported Interest from investments of $43,558,000 against $50,710,000 a year ago. Total investment income from non-controlled/non-affiliate investments was $44,199,000 against $50,992,000 a year ago. Total investment income was $46,817,000 against $52,688,000 a year ago. Net investment income was $21,456,000 against $21,175,000 a year ago. Total net gains were $30,001,000 against losses of $2,976,000 a year ago. Basic and diluted net investment income per common share was $0.33 against $0.41 a year ago.
For the nine months, company reported Interest from investments of $135,576,000 against $126,037,000 a year ago. Total investment income from non-controlled/non-affiliate investments was $137,430,000 against $126,726,000 a year ago. Total investment income was $146,184,000 against $143,178,000 a year ago. Net investment income was $63,978,000 against $63,575,000 a year ago. Total net losses were $95,196,000 against gains of $13,159,000 a year ago. Basic and diluted net investment income per common share was $1.13 against $1.23 a year ago.
Bain Capital Specialty Finance, Inc. is an externally managed specialty finance company focused on lending to middle market companies. The Company's investment objective is to generate current income and, to a lesser extent, capital appreciation through direct originations of secured debt, including first lien, first lien/last out, unitranche and second lien debt, investments in strategic joint ventures, equity investments and, to a lesser extent, corporate bonds. Its primary focus is capitalizing on opportunities within Bain Capital Creditâs Senior Direct Lending Strategy, which seeks to provide risk-adjusted returns and current income to investors by investing in middle-market companies with between $10 million and $150 million in annual earnings before interest, taxes, depreciation and amortization. It is focused on senior investments with a first or second lien on collateral and strong structures and documentation intended to protect the lender. It is managed by BCSF Advisors, LP.
BAIN CAPITAL SPECIALTY FINANCE, INC. 
