<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0707</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001611247</cik>
        <entityName>HSI High Yield Credit I Co-Investment Bay Houses, L.P.</entityName>
        <issuerAddress>
            <street1>C/O HSI-HEMISFERIO SUL INVESTMENTOS S.A.</street1>
            <street2>AV PRES JUSCELINO KUBITSCHEK 510-7 ANDAR</street2>
            <city>SAO PAULO - SP</city>
            <stateOrCountry>D5</stateOrCountry>
            <stateOrCountryDescription>BRAZIL</stateOrCountryDescription>
            <zipCode>04543-000</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>55 11-3127-5568</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2014</value>
        </yearOfInc>
    </primaryIssuer>

    <issuerList>
        <issuer>
            <cik>0001611248</cik>
            <entityName>HSI High Yield Credit I Co-Investment Bay Houses (A), L.P.</entityName>
            <issuerAddress>
                <street1>C/O HSI-HEMISFERIO SUL INVESTMENTOS S.A.</street1>
                <street2>AV PRES JUSCELINO KUBITSCHEK 510-7 ANDAR</street2>
                <city>SAO PAULO - SP</city>
                <stateOrCountry>D5</stateOrCountry>
                <stateOrCountryDescription>BRAZIL</stateOrCountryDescription>
                <zipCode>04543-000</zipCode>
            </issuerAddress>
            <issuerPhoneNumber>55 11-3127-5568</issuerPhoneNumber>
            <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
            <issuerPreviousNameList>
                <value>None</value>
            </issuerPreviousNameList>
            <edgarPreviousNameList>
                <value>None</value>
            </edgarPreviousNameList>
            <entityType>Limited Partnership</entityType>
            <yearOfInc>
                <withinFiveYears>true</withinFiveYears>
                <value>2014</value>
            </yearOfInc>
        </issuer>
        <issuer>
            <cik>0001611249</cik>
            <entityName>HSI High Yield Credit I Co-Investment Bay Houses (B), L.P.</entityName>
            <issuerAddress>
                <street1>C/O HSI-HEMISFERIO SUL INVESTMENTOS S.A.</street1>
                <street2>AV PRES JUSCELINO KUBITSCHEK 510-7 ANDAR</street2>
                <city>SAO PAULO - SP</city>
                <stateOrCountry>D5</stateOrCountry>
                <stateOrCountryDescription>BRAZIL</stateOrCountryDescription>
                <zipCode>04543-000</zipCode>
            </issuerAddress>
            <issuerPhoneNumber>55 11-3127-5568</issuerPhoneNumber>
            <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
            <issuerPreviousNameList>
                <value>None</value>
            </issuerPreviousNameList>
            <edgarPreviousNameList>
                <value>None</value>
            </edgarPreviousNameList>
            <entityType>Limited Partnership</entityType>
            <yearOfInc>
                <withinFiveYears>true</withinFiveYears>
                <value>2014</value>
            </yearOfInc>
        </issuer>
    </issuerList>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>-</firstName>
                <lastName>HSI - High Yield I GenPar Ltd.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o HSI-Hemisferio Sul Investimentos S.A</street1>
                <street2>Av Pres Juscelino Kubitschek 510-7 andar</street2>
                <city>Sao Paulo - SP</city>
                <stateOrCountry>D5</stateOrCountry>
                <stateOrCountryDescription>BRAZIL</stateOrCountryDescription>
                <zipCode>04543-000</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>General Partner</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Maximo</firstName>
                <lastName>Lima</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o HSI-Hemisferio Sul Investimentos S.A</street1>
                <street2>Av Pres Juscelino Kubitschek 510-7 andar</street2>
                <city>Sao Paulo - SP</city>
                <stateOrCountry>D5</stateOrCountry>
                <stateOrCountryDescription>BRAZIL</stateOrCountryDescription>
                <zipCode>04543-000</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Sole Director of the General Partner</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Other Investment Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>Decline to Disclose</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>04.1</item>
            <item>06b</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2014-06-24</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>0</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>36400000</totalOfferingAmount>
            <totalAmountSold>36400000</totalAmountSold>
            <totalRemaining>0</totalRemaining>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>3</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse>The fund charges a management fee that is described in the fund's offering documents.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>true</authorizedRepresentative>
            <signature>
                <issuerName>HSI High Yield Credit I Co-Investment Bay Houses, L.P.</issuerName>
                <signatureName>/s/ Diogo Bustani</signatureName>
                <nameOfSigner>Diogo Bustani</nameOfSigner>
                <signatureTitle>Alternate Director of the General Partner</signatureTitle>
                <signatureDate>2014-06-27</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
