<SEC-DOCUMENT>0001225208-12-011061.txt : 20120503
<SEC-HEADER>0001225208-12-011061.hdr.sgml : 20120503
<ACCEPTANCE-DATETIME>20120503141843
ACCESSION NUMBER:		0001225208-12-011061
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20120427
FILED AS OF DATE:		20120503
DATE AS OF CHANGE:		20120503

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BABSON CAPITAL PARTICIPATION INVESTORS
		CENTRAL INDEX KEY:			0000831655
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				043025730
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1500 MAIN STREET
		STREET 2:		SUITE 600
		CITY:			SPRINGFIELD
		STATE:			MA
		ZIP:			01115
		BUSINESS PHONE:		4132261000

	MAIL ADDRESS:	
		STREET 1:		1500 MAIN STREET
		STREET 2:		SUITE 600
		CITY:			SPRINGFIELD
		STATE:			MA
		ZIP:			01115

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MASSMUTUAL PARTICIPATION INVESTORS
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MASSMUTUAL CORPORATE INVESTORS II
		DATE OF NAME CHANGE:	19880417

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SWEENEY SUSAN B
		CENTRAL INDEX KEY:			0001067907

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-05531
		FILM NUMBER:		12808999

	MAIL ADDRESS:	
		STREET 1:		48 ELY ROAD
		CITY:			FARMINGTON
		STATE:			CT
		ZIP:			06032
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>doc3.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0205</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2012-04-27</periodOfReport>

    <noSecuritiesOwned>1</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000831655</issuerCik>
        <issuerName>BABSON CAPITAL PARTICIPATION INVESTORS</issuerName>
        <issuerTradingSymbol>MPV</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001067907</rptOwnerCik>
            <rptOwnerName>SWEENEY SUSAN B</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1500 MAIN STREET</rptOwnerStreet1>
            <rptOwnerStreet2>P O BOX 15189</rptOwnerStreet2>
            <rptOwnerCity>SPRINGFIELD</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>01115</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isOther>1</isOther>
            <otherText>Trustee</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes></footnotes>

    <remarks>No securities are beneficially owned.</remarks>

    <ownerSignature>
        <signatureName>Ann Malloy as Attorney-in-fact</signatureName>
        <signatureDate>2012-05-03</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>susansweeney.txt
<TEXT>
SEC Form 3, Form 4 and Form 5 and Application for EDGAR Access
(Form ID) Confirmation of Authority to Sign


Pursuant to Instruction 7 to SEC "Form 3 - Initial Statement of Beneficial
Ownership of Securities", "Form 4--Statement of Changes in Beneficial Ownership"
and "Form 5 - Annual Statement of Beneficial Ownership of Securities",
the undersigned, being a Trustee of  Babson Capital Corporate Investors and
Babson Capital Participation Investors  (each, a "Trust"), hereby appoint and
designate Jessica Burns, Ruth Howe, Ann Malloy, and Melissa Lagrant each as my
true and lawful attorneys in fact with full power to (a) apply for access to the
EDGAR filing system in my name and (b) sign for me and file with the
Securities and Exchange Commission, the New York Stock Exchange and the Trust
said SEC Forms 3, 4 and/or 5 with respect to shares of the Trust purchased or
sold by the undersigned or any other change of beneficial ownership relating to
equity or derivative securities of the Trust required to be reported by the
undersigned.

This authorization shall remain in effect until a written revocation is executed
by the undersigned and filed with the Securities and Exchange Commission.



Signature and Date:	05/01/2012

Name:	Susan Sweeney
Title:	Trustee of Babson Capital Corporate Investors and Babson Capital
Participation 	Investors
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
