The following is a summary of the Bain Capital Specialty Finance, Inc. (BCSF) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Bain Capital Specialty Finance reported a net investment income per share of $0.53 for Q3 2024.

• The net asset value per share increased slightly to $17.76, representing a 0.3% increase from the previous quarter.

• Total dividends for Q4 declared at $0.45 per share, reflecting a 10.1% annualized rate on ending book value as of September 30, 2024.

Business Progress:

• Strong investment activity for Q3 with total new fundings of $413 million into 83 portfolio companies.

• Enhanced focus on first lien senior secured loans, representing 97% of new investment fundings.

Opportunities:

• Active deal flow anticipated to continue into 2025, supported by substantial private equity dry powder and pressures for private equity sponsors to return capital.

• Opportunities to source and underwrite investment opportunities in the core middle market as a value-added capital provider.

Risks:

• Mild fluctuations in portfolio yield primarily affected by dividend income from aviation investments and joint ventures.

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