Babson Capital Management LLC, an investment manager with $149 billion in assets under management that is based in Boston, Springfield and Charlotte, N.C., today announced it has formed a new Chicago-based Middle Market Lending Group to provide senior secured financing solutions to middle-market companies.

The addition of the group will enable Babson Capital to offer a full suite of middle-market financing products. The new team will focus on companies owned by private equity firms or outstanding management teams.

“Babson Capital has a long track record of building strong relationships with the middle-market private equity community, and we are pleased to address a real need in the market by adding senior secured financing to the growing list of services we are able to offer our partners,” said Michael P. Hermsen, managing director and head of Babson Capital’s Global Private Finance Group.