Amit Joshi
About Amit Joshi
Amit Joshi, 42, is Chief Financial Officer and Principal Financial Officer of Bain Capital Specialty Finance, Inc. (BCSF) since January 2024; he is also CFO of Bain Capital Private Credit and a Senior Vice President at Bain Capital Credit . He is a CPA, CFA, and Chartered Accountant, with first-class honors from Calcutta University; prior roles include CFO for Apollo Debt Solutions BDC and Chief Accounting Officer/Assistant Treasurer/Vice President at MidCap Financial Investment Corporation . During his tenure, BCSF reported NII per share of $0.50 in Q1 2025 (119% dividend coverage) and $0.47 in Q2 2025 (regular dividend coverage exceeded by 12%), EPS of $0.44 in Q1 and $0.37 in Q2, and NAV per share of $17.64 (Q1) and $17.56 (Q2) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Apollo Global Management | CFO, Apollo Debt Solutions BDC | 2013–2023 | Led finance/SEC reporting for BDC; oversaw private fund finance and operating companies . |
| MidCap Financial Investment Corporation | Chief Accounting Officer; Assistant Treasurer; Vice President | 2013–2023 | Built BDC financial controls and reporting, liquidity management . |
| Ernst & Young | Senior Manager | 2008–2013 | Asset management audit leadership; strengthened GAAP and control frameworks . |
| Mid-size accounting firm (NY) | Audit Senior | 2006–2008 | Financial audits; improved accounting rigor . |
| International roles | Increasing responsibility | 2003–2006 | Progressive audit/finance roles across global offices . |
External Roles
- No public company board roles or external directorships are disclosed in the proxy biography for Mr. Joshi .
Fixed Compensation
- BCSF is externally managed and has no employees; officers (including the CFO) receive no direct compensation from BCSF. The company reimburses its Advisor for allocable overhead, including costs related to the CFO and staff, under the Administration Agreement .
Performance Compensation
- No direct equity or cash incentive awards (RSUs/PSUs/options/bonuses) are disclosed for executive officers at BCSF because they are compensated by the Advisor, not the company. Performance metrics tied to executive pay, vesting schedules, severance, and change-of-control economics for executives are not disclosed at the BCSF level .
Recent Operating Metrics (context for CFO tenure)
| Metric | Q1 2025 | Q2 2025 |
|---|---|---|
| Net Investment Income per share ($) | $0.50 | $0.47 |
| Dividend coverage vs regular dividend | 119% | Exceeded by 12% |
| EPS ($) | $0.44 | $0.37 |
| Annualized return on book value (%) | 10.0% | 8.3% |
| NAV per share ($) | $17.64 | $17.56 |
| Total declared quarterly dividends per share ($) | $0.45 (0.42 + 0.03) | $0.45 (0.42 + 0.03) |
| Gross originations ($mm) | $277 (−31% YoY) | $530 (+73% YoY) |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership (shares) | 0; row shows “N/A —” for Amit Joshi in ownership table . |
| Ownership as % of shares outstanding | 0% (64,868,506.64 shares outstanding as of record date) . |
| Vested vs unvested shares | Not disclosed; no executive equity reported at BCSF . |
| Options (exercisable/unexercisable) | None exercisable within 60 days (company-wide) . |
| Shares pledged/hedging | Company Insider Trading Policy prohibits short-selling and margining/borrowing against BCSF securities, reducing pledging risk . |
| Stock ownership guidelines | Not disclosed for executives . |
Employment Terms
- Office and Role: CFO and Principal Financial Officer; officers hold office at the pleasure of the Board until the next election or until successors are elected and qualified .
- Employment Contract/Severance/Change-of-control: Not disclosed; executives are employees of the Advisor and not directly compensated by BCSF, so company-level agreements and severance economics are not provided .
- Insider Trading & Clawbacks: Insider Trading Policy requires pre-clearance for trades, discourages short-term/speculative trading, and prohibits short-selling and margining/borrowing against BCSF stock; clawback provisions for executives are not disclosed at the company level .
Compensation Committee Analysis
| Committee | Members | Structure/Independence | 2024 Meetings |
|---|---|---|---|
| Compensation Committee | Clare S. Richer (Chair), Amy Butte, David G. Fubini, Thomas A. Hough, Jay Margolis | Comprised solely of Independent Directors | 1 meeting |
Investment Implications
- Alignment and selling pressure: With no disclosed direct share ownership and no company-level executive equity awards, insider selling pressure from Mr. Joshi appears minimal; pledging/hedging risk is constrained by policy prohibiting short-selling and margining/borrowing against BCSF stock .
- Pay-for-performance transparency: Executive compensation is borne by the Advisor, reducing visibility into salary/bonus/equity incentives and severance/CIC terms at the public company level—this can weaken direct alignment optics for public shareholders despite strong operating dividend coverage during his tenure .
- Execution track record: Reported NII coverage of dividends, stable NAV, and strong origination trends suggest disciplined portfolio management and credit underwriting under the current leadership team that includes Mr. Joshi overseeing financial reporting and controls .