Bloomberg: Bain Joins Versana as First Buysider on Loan Data Platform

By Jeannine Amodeo 

Originally posted on Bloomberg Terminal. Subscribers can read the full story here.

Versana, a technology platform aimed at modernizing the $7 trillion syndicated loan and private credit markets, has gotten its first subscriber on the investing side of Wall Street through Bain Capital’s credit arm.

Founded in 2021 and backed by a consortium of large banks, Versana has been working to standardize data and shift back-office operations onto one system so that investors have an easier time tracking their positions. It already has several banks using the platform, but Bain’s joining is an important step in getting the full scope of the leveraged loan market onto the platform, said Versana Chief Executive Officer Cynthia Sachs.

“Their adoption is a milestone that validates the platform for the buy-side and sets a standard for the industry,” Sachs said in an interview.

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