UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01. | Entry into a Material Definitive Agreement |
On May 23, 2025, BCPC Advisors, LP (the “Administrator”), the administrator to Bain Capital Private Credit (the “Company”) entered into a sub-administration servicing agreement (the “Sub-Administration Agreement”) with U.S. Bancorp Fund Services, LLC (“USBFS”). Pursuant to the Sub-Administration Agreement, USBFS provides certain administrative services necessary for the operations of the Company, including the following services: (1) general fund management, (2) regulatory and Internal Revenue Service compliance, (3) assistance with SEC inspections, (4) financial reporting services, and (5) tax reporting services. The Administrator will cause the Company to bear all fees to be paid to USBFS under the Sub-Administration Agreement and USBFS will be entitled to receive reimbursement from the Company for all out-of-pocket expenses properly incurred by USBFS in respect of the services provided pursuant to the Sub-Administration Agreement. After the initial one-year term of the Sub-Administration Agreement, either party may terminate the Sub-Administration Agreement at any time upon 90 days’ prior written notice.
On May 23, 2025, the Administrator entered into a fund accounting servicing agreement (the “Fund Accounting Servicing Agreement”) with USBFS, pursuant to which USBFS provides certain accounting services with respect to the Company, including: (1) portfolio accounting services, (2) expense accrual and payment services, (3) valuation and financial reporting services, (4) tax accounting services, (5) compliance services, and (6) other accounting-related functions. The Administrator will cause the Company to bear all fees to be paid to USBFS under the Fund Accounting Servicing Agreement and USBFS will be entitled to receive reimbursement from the Company for all out-of-pocket expenses properly incurred by USBFS in respect of the services provided pursuant to the Fund Accounting Servicing Agreement. After the initial one-year term of the Fund Accounting Servicing Agreement, either party may terminate the Fund Accounting Servicing Agreement at any time upon 90 days’ prior written notice.
The above summaries of the Sub-Administration Agreement and the Fund Accounting Servicing Agreement are not complete and are qualified in their entirety by the full text of the Sub-Administration Agreement and the Fund Accounting Servicing Agreement, copies of which are filed with this Current Report on Form 8-K as Exhibits 10.1 and 10.2, respectively, and incorporated herein by reference.
Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
10.1 | Sub-Administration Servicing Agreement dated May 23, 2025, by and between BCPC Advisors, LP and U.S. Bancorp Fund Services, LLC | |
10.2 | Fund Accounting Servicing Agreement dated May 23, 2025, by and between BCPC Advisors, LP and U.S. Bancorp Fund Services, LLC | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, Bain Capital Private Credit has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
BAIN CAPITAL PRIVATE CREDIT | ||||||
Date: May 29, 2025 | By: | /s/ Jessica Yeager | ||||
Name: | Jessica Yeager | |||||
Title: | Vice President |