Bain, UBS Lend $382 Million to Quadrant’s Aidacare in Australia
(Bloomberg) — Bain Capital Credit LP and UBS Group AG are lending a combined A$540 million ($382 million) to an Australian health-equipment manufacturer Aidacare Pty., according to people familiar with the matter, in the latest example of private credit being used to help finance stakeholder returns.
The loan is for six years and the proceeds will fund a dividend payout to the company’s private equity owner Quadrant Private Equity Pty and refinance debt, according to the people who asked not to be identified as the talks are private. Representatives for Bain and UBS declined to comment, while Aidacare and Quadrant didn’t immediately respond to requests for comment.
Australia is one of the hottest private credit markets in the Asia Pacific, luring global alternative asset giants and spurring some of the biggest deals in the region, including a $10 billion loan announced recently by Australian AI startup Firmus Technologies Pty. The financing also reflects a broader global trend in which borrowers, particularly, private equity firms, are turning to private credit or bank loans to fund investor payouts where conventional exits from corporate holdings through public listings or sales prove less attractive.
Aidacare’s loan pays a margin of 500 basis points over the local Bank Bill Swap Bid Rate, the people familiar said. UBS is syndicating a portion of its commitment to other lenders, the people added.
The Australian Financial Review reported in January that Quadrant shelved a plan to sell Aidacare and was in talks for the loan.
Private credit loans often offer investors significantly higher yield premiums than those found on average in the public arena to compensate for the added difficulties investors may face in exiting positions. Still, with credit spreads in global public markets near multi-decade lows, and junk bonds offering an average yield premium of under 300 basis points, private credit’s higher potential returns are attracting investors.
Read also: Private Capital’s Titans Rush to Defend Software as Rout Deepens
©2026 Bloomberg L.P.
