<SEC-DOCUMENT>0001225208-14-015391.txt : 20140626
<SEC-HEADER>0001225208-14-015391.hdr.sgml : 20140626
<ACCEPTANCE-DATETIME>20140620115007
ACCESSION NUMBER:		0001225208-14-015391
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20140619
FILED AS OF DATE:		20140620
DATE AS OF CHANGE:		20140620

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:			Morrison Russell
		CENTRAL INDEX KEY:			0001560801

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-05531
		FILM NUMBER:		14932060

	MAIL ADDRESS:	
		STREET 1:		550 SOUTH TRYON STREET SUITE 3300
		STREET 2:		BABSON CAPITAL MANAGEMENT LLC
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28202
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>doc3.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2014-06-19</periodOfReport>

    <noSecuritiesOwned>1</noSecuritiesOwned>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001560801</rptOwnerCik>
            <rptOwnerName>Morrison Russell</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 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>2014-06-20</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>rmorrison.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 Vice Chairman of Babson
Capital Management 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:	06-19-2014
Name:			Russell Morrison
Title:			Vice Chairman of Babson Capital Management LLC




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