<SEC-DOCUMENT>0001225208-15-010301.txt : 20150423
<SEC-HEADER>0001225208-15-010301.hdr.sgml : 20150423
<ACCEPTANCE-DATETIME>20150423161602
ACCESSION NUMBER:		0001225208-15-010301
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20150416
FILED AS OF DATE:		20150423
DATE AS OF CHANGE:		20150423

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:			Thompson Paul John
		CENTRAL INDEX KEY:			0001640139

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-05531
		FILM NUMBER:		15788623

	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>2015-04-16</periodOfReport>

    <noSecuritiesOwned>1</noSecuritiesOwned>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001640139</rptOwnerCik>
            <rptOwnerName>Thompson Paul John</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>550 SOUTH TRYON STREET</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 3300</rptOwnerStreet2>
            <rptOwnerCity>CHARLOTTE</rptOwnerCity>
            <rptOwnerState>NC</rptOwnerState>
            <rptOwnerZipCode>28202</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>2015-04-23</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>pthompson.txt
<TEXT>
Securities and Exchange Commission ("SEC") Forms 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 the Chief Financial Officer of  Babson Capital
Management LLC, the investment adviser to or co-manager of Babson Capital
Corporate Investors, Babson Capital Participation Investors, Babson Capital
Global Short Duration High Yield Fund,Special Value Opportunities Fund, LLC,
Tennenbaum Opportunities Fund V, LLC and Tennenbaum Opportunities Partners V,
LP  (the "Issuers"), hereby appoint and designate Ann Malloy, Jessica Burns,
Amy Keohane, Nick DeDonno, Daniel Newell 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 SEC, the
New York Stock Exchange and the Issuers said SEC Forms 3, 4 and/or 5 with
respect to shares of the Issuers purchased or sold by the undersigned or any
other change of beneficial ownership relating to equity or derivative securities
of the Issuers 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 SEC.



Date: 	4/20/2015
Name:	Paul J. Thompson
Title:	Chief Financial Officer of Babson Capital Management LLC

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