<SEC-DOCUMENT>0001225208-13-022276.txt : 20131024
<SEC-HEADER>0001225208-13-022276.hdr.sgml : 20131024
<ACCEPTANCE-DATETIME>20131024175635
ACCESSION NUMBER:		0001225208-13-022276
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20131018
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:			Ginader Barbara
		CENTRAL INDEX KEY:			0001589941

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-05531
		FILM NUMBER:		131168972

	MAIL ADDRESS:	
		STREET 1:		1500 MAIN STREET
		CITY:			SPRINGFIELD
		STATE:			MA
		ZIP:			01115
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>doc3.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2013-10-18</periodOfReport>

    <noSecuritiesOwned>1</noSecuritiesOwned>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001589941</rptOwnerCik>
            <rptOwnerName>Ginader Barbara</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 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>bginader.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 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:	07-31-2013
Name:			Barbara Ginader
Title:			Trustee of Babson Capital Corporate Investors and Babson Capital
			Participation 	Investors

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