Financial services major Barings has closed its first private equity and real assets fund on more than $940m.
Barings Asset-Based Income Fund (BABIF) is the firm’s first commingled fund targeting direct investments in real assets and asset-based businesses.
Investors in the vehicle including institutions including public and private pensions, insurers, sovereign wealth vehicles and foundations, as well as family offices.
Barings said it had already used BABIF for investments in several of its target markets, including aviation leasing, media and entertainment, pharmaceuticals and financial services.
Jon Rotolo, head of Barings’ PE and real assets team, said, “Our platform has over a decade of experience managing capital for some of the world’s most sophisticated institutional investors.
“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.”
Anthony Sciacca, head of Barings Alternative Investments, added, “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’ PE and real assets team targets direct, control investments in asset-based businesses across infrastructure, intangible assets and natural resources.
It has deployed $3.8bn of capital into more than 60 investments across the globe since 2005.
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