<SEC-DOCUMENT>0001225208-13-022278.txt : 20131024
<SEC-HEADER>0001225208-13-022278.hdr.sgml : 20131024
<ACCEPTANCE-DATETIME>20131024175639
ACCESSION NUMBER:		0001225208-13-022278
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20131017
FILED AS OF DATE:		20131024
DATE AS OF CHANGE:		20131024

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:			Harris Terrell W.
		CENTRAL INDEX KEY:			0001590088

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-05531
		FILM NUMBER:		131168974

	MAIL ADDRESS:	
		STREET 1:		340 MADISON AVENUE
		STREET 2:		18TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>doc3.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2013-10-17</periodOfReport>

    <noSecuritiesOwned>1</noSecuritiesOwned>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001590088</rptOwnerCik>
            <rptOwnerName>Harris Terrell W.</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>Officer of the Adviser</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes></footnotes>

    <remarks>No securities are beneficially owned by the Reporting Person.</remarks>

    <ownerSignature>
        <signatureName>Ann Malloy as Attorney-in-fact</signatureName>
        <signatureDate>2013-10-24</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>tharris.txt
<TEXT>
Securities and Exchange Commission ("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 being a Managing Director of Babson
Capital Finance LLC, 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 Babson Capital Corporate
Investors and Babson Capital Participation Investors  (each, a"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:	10-23-2013
Name:			Terrell W. Harris
Title:			Managing Director of Babson Capital Finance LLC




</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
