Barings LLC has closed $943 million for its first private equity/real assets fund. Barings Asset-Based Income Fund’s limited partners include public and private pensions, insurers, sovereign wealth, family offices and foundations from the U.S., Europe and Asia-Pacific.
Charlotte, NC (June 6, 2019) – Barings LLC (“Barings”), one of the world’s leading financial services firms, announced today the final close of Barings Asset-Based Income Fund (“BABIF”). BABIF, and related accounts, raised $943 million in commitments from existing and new institutional investors including public and private pensions, insurers, sovereign wealth, family offices, and foundations from the U.S., Europe and Asia-Pacific.
BABIF is Barings’ first commingled fund that will invest directly in real assets and asset-based businesses designed to generate current income and opportunities for capital appreciation. BABIF has already deployed capital in several of its target markets including aviation leasing, media and entertainment, pharmaceuticals, and financial services.
“Our platform has over a decade of experience managing capital for some of the world’s most sophisticated institutional investors,” said Jon Rotolo, Head of Barings’ Private Equity / Real Assets team. “With BABIF, we’re able to offer clients access to a differentiated opportunity set while drawing upon our deep industry contacts to deploy capital. We recognize the challenges our limited partners face in putting money to work and BABIF is on track with its plan for capital deployment.”
“We are thankful for the strong investor interest in BABIF from our existing clients, and newly formed partnerships with investors from around the world,” said Anthony Sciacca, Head of Barings Alternative Investments. “BABIF addresses a pressing need faced by many institutional investors seeking access to unique real assets opportunities. The team’s proven investment strategy along with our ability to identify long-term trends through research makes Barings a compelling partner for investors. This strategy has, and will continue to be, an area of focus and growth for our alternatives business.”
Barings’ Private Equity / Real Assets team targets direct, control investments in asset-based businesses across infrastructure, intangible assets and natural resources. The team focuses on assets with thematically-driven demand and actively manages those assets in an effort to generate both current income and long-term enterprise value. Since 2005, the Private Equity / Real Assets team has deployed $3.8 billion* of capital into more than 60 investments globally.
Barings is a $317+ billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients and customers. Through active asset management and direct origination, we provide innovative solutions and access to differentiated opportunities across public and private capital markets. A subsidiary of MassMutual, Barings maintains a strong global presence with business and investment professionals located across North America, Europe and Asia Pacific. For more information, visit www.barings.com.
*As of March 31, 2019