#USA #New York #Bain Capital #Versana #Corporate Loans

Bain Capital Partners with Versana

In a significant development for the corporate loan market, Bain Capital Credit has officially become a subscriber to Versana's cutting-edge digital data platform. This partnership represents a pivotal step in the modernization of corporate credit markets, as Versana continues to attract top-tier financial institutions.

Bain Capital, a renowned private investment firm with a sharp focus on corporate credit, is now the 13th premier institution to join the ranks of Versana's innovative platform. The collaboration aims to leverage Versana’s high-quality data offerings to enhance operational efficiencies and decrease associated costs for Bain Capital.

One of the standout features of this partnership is Bain Capital's early adoption of the newly launched Versana Reconciliation Module (VRM). This advanced solution provides an electronic mechanism to synchronize lender positions with agents' primary source data at any given moment, driving accuracy and transparency in the loan management process.

Cynthia E. Sachs, the Founding CEO of Versana, celebrated Bain Capital's involvement, indicating that their participation underscores the product-market fit Versana offers and its compelling value proposition for buy-side entities. Sachs noted, “Bain Capital sets a pioneering example for other institutions to follow, setting the groundwork for Versana’s expansion.”

From Bain Capital's perspective, Kevin Gallagher, Head of Operations, emphasized the transformative potential of Versana’s technology within the industry. He remarked, “Exciting new technologies are emerging across the industry, and Versana has firmly established itself as a leader in this space. Their portal and innovative techniques have the potential to revolutionize not just the loan market but also improve back and middle office services.”

Since its inception, Versana has prioritized building partnerships with top fund managers in the loan market. Through the establishment of its Buy-Side Advisory Committee in 2023, the company has effectively gathered feedback from industry leaders, allowing it to tailor its product development and roadmap based on real market needs. This strategy has positioned Versana as a key facilitator for improvements in a sector addressing over 10,000 institutional lenders.

The addition of Bain Capital is a vital boost to Versana’s ongoing mission and momentum. Earlier in 2024, Versana completed a successful capital raise of $26 million and currently manages over 6,000 corporate loan facilities that extend to $3.5 trillion in notional commitments on its advanced platform.

About Versana

Versana is an innovative data and technology company that is redefining the landscape of the syndicated loan and private credit markets. The company specializes in capturing data from agent banks in real time, offering remarkable transparency regarding loan-level details and lender portfolio positions. With strong backing from investors, Versana is rapidly becoming the preferred technology partner to facilitate a well-deserved modernization of the corporate loan industry. For further information, you can visit their site at versana.io.

About Bain Capital Credit

Bain Capital Credit manages approximately $48.3 billion in assets and acts as a global credit specialist. The firm invests across various credit strategies, including leveraged loans, high-yield bonds, and bespoke capital solutions. Their extensive team of over 100 professionals conducts thorough analyses of thousands of corporate issuers worldwide to create substantial value. In addition to credit investments, Bain Capital also actively participates in various asset classes, including private equity and real estate, leveraging its extensive network to capitalize on opportunities across a diverse range of sectors.