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Bailey McCann, Opalesque New York: MassMutual's Direct Private Investments, a fund finance provider, and MassMutual Asset Finance, an equipment finance company, will transition to Barings. The move will occur in the second quarter of 2023.
In a statement, MassMutual said the transition will allow those teams to use Barings' global platform to continue to scale their financing businesses. DPI provides customized proprietary secured loans to private capital managers and funds backed by a range of private capital assets. The team has originated more than $35 billion in private direct investments since inception. MMAF originates, underwrites, funds, and manages large ticket capital equipment transactions throughout the United States. Since inception, MMAF has funded more than $20 billion in new equipment purchases.
DPI and MMAF will report to Barings' President, Eric Lloyd, who oversees a diverse set of organizations, including cross-asset investment teams. The structure will enable the businesses to leverage the experience, capabilities, and relationships across the Barings platform, while remaining a separate business unit.
"We are excited to welcome DPI and MMAF to Barings as we continue to expand our multi-strategy capabilities across public and private asset classes to meet the unique needs of insurance companies and other institutional investors," said Mike Freno, Chairman and CEO of Barings....................... To view our full article Click here
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