Aug 24, 2022, 01:00 ET
Latest fundraise expands Barings’ $14.3+ billion Global Infrastructure platform
LONDON and NEW YORK, Aug. 24, 2022 /PRNewswire/ — Barings, one of the world’s leading investment managers, today announced the successful close of its inaugural Target Yield Infrastructure Debt Fund and associated vehicles at $630 million, surpassing the high-end target of $500 million. The strategy, which has garnered interest from a global investor base including a mix of public and private pension funds and insurance companies, is focused on OECD countries primarily in North America and Europe. In line with Barings’ existing infrastructure strategies, this fund will invest in below investment grade debt assets across social and regulated infrastructure, renewables, transportation and digital infrastructure, and expands the firm’s $14.3+ billion Global Infrastructure platform.
“Barings Global Infrastructure aims to offer investors exposure to a diversified, uncorrelated global strategy with appropriate risk and return. We believe that the asset class offers tangible investment opportunities that have an immediate positive impact on communities across the globe and contribute to a sustainable future,” said Pieter Welman, Managing Director and Head of Barings Global Infrastructure.
Barings has been investing in infrastructure debt for over 30 years and established a standalone group focusing on the asset class in 2013. Since then, the group has invested over $18 billion across more than 300 transactions, deploying $3.4 billion in the last 18 months.
“We have been making investments in infrastructure debt on behalf of our parent company for years. We view this inaugural fund as a natural evolution of our historical infrastructure debt strategy, focused on the same sectors and types of credits,” said Mark Ackerman, Managing Director and Co-Portfolio Manager for Barings Target Yield Infrastructure Debt Fund.
“We continue to find investment opportunities in below investment grade infrastructure debt as a compelling addition to our investors’ asset allocation strategies,” said Managing Director, Orhan Sarayli, who serves as the lead originator for infrastructure project finance debt transactions. “We appreciate their confidence in our team and share their enthusiasm around the opportunity set that exists in this space.”
Barings is a $349+ billion* global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its clients, communities and employees, and is committed to sustainable practices and responsible investment.
*As of June 30, 2022