Barings and Partners Group have agreed a $365m (£271.8m) financing partnership, whereby Barings will provide investment-grade rated loans for Partners Group’s evergreen private credit vehicle.
The transaction strengthens a long-standing partnership between the global asset manager and the private markets specialist.
The Partners Group Private Loans SICAV-SIF provides senior secured loans to sponsor‑backed borrowers across non‑cyclical and defensive industries in developed markets worldwide.
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Barings Portfolio Finance led the structuring, legal documentation, and execution of the transaction and provided the entirety of the investment‑grade rated loans.
Andrew Bellis, partner and head of private credit, at Partners Group, said that the transaction is an “innovative and first of its kind financing” that meets “the evolving needs of a broad range of investors”.
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DBRS served as the ratings agency on the deal. Dechert acted as legal counsel to Partners Group and Cadwalader, Wickersham & Taft served as counsel to Barings. GreensLedge acted as financial adviser to Partners Group, while Citi and Alter Domus engaged as collateral agent and loan agent respectively.
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