Barings has raised more than $19bn (£14.2bn) for its global direct lending strategy at final close, with institutional, insurance and wealth investors committing capital.
The strategy had a two-year fundraising period and saw sustained deployment activity, including more than $18bn invested across 355 transactions globally, the alternative asset manager said.
The fundraising comes despite negative headlines surrounding the private credit market over the past year, indicating that investors continue to back the asset class.
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“We are thrilled to reach this milestone and grateful to our global investor base as we continue to expand our platform at a time when volatility and market repricing is driving greater dispersion across managers,” said Bryan High, head of global private finance. “With a global lens and a diversified, institutional capital base, we are able to capture relative value as it shifts across regions, sectors and pockets of dislocation, while continuing to focus on downside protection and driving long-term outcomes for our clients.”
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The latest fundraise expands Barings’ Global Private Finance platform, which now exceeds $67bn, the firm said. Overall, the company manages $481bn in assets across credit, real assets, capital solutions and emerging markets.
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