Barings closes its first target-yield infrastructure debt strategy at $630 million
Latest fundraising expands Barings’ more than $14.3 billion global infrastructure platform
LONDON and NEW YORK, August 24, 2022 /PRNewswire/ — Barings, one of the world’s leading investment managers, today announced the successful closing of its first target-return infrastructure debt fund and related vehicles. $630 millionexceeding the high-end target of $500 million. The strategy, which has attracted interest from a global investor base including a mix of public and private pension funds and insurance companies, focuses on OECD countries primarily in North America and Europe. Consistent with Barings’ existing infrastructure strategies, this fund will invest in lower-grade debt assets in social and regulated infrastructure, renewable energy, transportation and digital infrastructure, and expand Barings’ global infrastructure platform. the company more than $14.3 billion.
“Barings Global Infrastructure aims to provide investors with exposure to a diversified, uncorrelated global strategy with appropriate risk and return. We believe the asset class offers tangible investment opportunities that have an immediate positive impact on communities around the world and contribute to a sustainable future,” said Peter WellmanManaging Director and Head of Barings Global Infrastructure.
Barings has been investing in infrastructure debt for over 30 years and established a standalone group focused on the asset class in 2013. Since then the group has invested over $18 billion on more than 300 transactions, by deploying $3.4 billion over the past 18 months.
“We have been investing in infrastructure debt on behalf of our parent company for years. We view this inaugural fund as a natural evolution of our historic infrastructure debt strategy, focused on the same sectors and credit types,” said Mark AckermanManaging Director and Co-Portfolio Manager of Barings Target Yield Infrastructure Debt Fund.
“We continue to find opportunities to invest in sub-investment grade infrastructure debt as a compelling addition to our investors’ asset allocation strategies,” said the Managing Director, Orhan Sarayli, which serves as the lead originator for infrastructure project financing transactions. “We appreciate their confidence in our team and share their excitement around the set of opportunities that exist in this space.”
Barings is a $349 billion+* global investment manager that seeks differentiated opportunities and builds long-term portfolios across public and private bond, real estate and specialty equity markets. With investment professionals based in North America, Europe and Asia Pacificthe company, a subsidiary of MassMutual, aims to serve its customers, communities and employees, and is committed to sustainable practices and responsible investment.
*Dated June 30, 2022