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Laxman Pai, Opalesque Asia: The $317bn global financial services firm Barings held the final close of its Barings Asset-Based Income Fund (BABIF), which raised $943m in commitments.
"BABIF has raised $943m in commitments from existing and new institutional investors including public and private pensions, insurers, sovereign wealth, family offices, and foundations from the U.S., Europe and Asia-Pacific," said a press release.
BABIF is Barings' first commingled fund that will invest directly in real assets and asset-based businesses designed to generate current income and opportunities for capital appreciation.
BABIF has already deployed capital in several of its target markets including aviation leasing, media and entertainment, pharmaceuticals, and financial services.
"Our platform has over a decade of experience managing capital for some of the world's most sophisticated institutional investors," said Jon Rotolo, Head of Barings' Private Equity / Real Assets team.
"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," he added.
"We are thankful for the strong investor interest in BABIF from our existing clients, and newly formed partnerships with investors from around the world," said Anthony Sciacca...................... To view our full article Click here
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