<SEC-DOCUMENT>0001225208-15-008399.txt : 20150323
<SEC-HEADER>0001225208-15-008399.hdr.sgml : 20150323
<ACCEPTANCE-DATETIME>20150323172546
ACCESSION NUMBER:		0001225208-15-008399
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20150323
FILED AS OF DATE:		20150323
DATE AS OF CHANGE:		20150323

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:			Bishop Janice
		CENTRAL INDEX KEY:			0001563224

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-05531
		FILM NUMBER:		15719914

	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>2015-03-23</periodOfReport>

    <noSecuritiesOwned>1</noSecuritiesOwned>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001563224</rptOwnerCik>
            <rptOwnerName>Bishop Janice</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>Asst Secretary</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>2015-03-23</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>bishop.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 Associate Secretary 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.




Name:	Janice Bishop
Date:   March 23, 2015
Title:	Associate Secretary of Babson Capital Corporate Investors and Babson
        Capital Participation Investors
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
