Barings merger creates giant global fund

Added 12th September 2016

Four MassMutual affiliates have been merged under the Barings brand to create one of the world’s largest asset management organisations with AUM of more than $275bn (£207bn, €245bn).

Barings merger creates giant global fund

Babson Capital Management and its subsidiaries Cornerstone Real Estate Advisers and Wood Creek Capital Management have combined with Baring Asset Management and now operate as a unified company under the Barings name.

The Barings name was chosen due to its global presence, diverse client base, and its heritage, which dates back to 1762.

First announced in March 2016, the merger was completed ahead of schedule with the first phase on integration expected for the final quarter of this year.

Integrated global footprint

“This merger marks an exciting moment in our history, and it enhances our ability to provide comprehensive, innovative solutions to help our clients meet their investment objectives,” said Tom Finke, chairman and chief executive of Barings.

“The new Barings possesses expanded depth and breadth of expertise across the global fixed income, equity, real estate and alternative asset markets. In addition, our integrated global footprint gives us a broader perspective, access to a more-diverse set of opportunities and strengthens our ability to invest across global markets.”

Leadership team

Russ Morrison has been named president of the combined entity and will lead the global fixed income, equity and multi-asset strategies.

Scott Brown will lead global real estate, while Anthony Sciacca will lead global alternative investments and private equity.

Roger Crandall, chairman, president and chief executive of US insurance company MassMutual, said: “We are extremely pleased to reach this important milestone, bringing together our world-class, institutional asset management affiliates into a unified global asset manager and broadening our offerings and commitment to clients around the world.

“Importantly, the launch of the ‘new’ Barings builds on the distinctive legacies of these four firms, represents an important strategic step forward that further differentiates us in the marketplace and positions our asset management operations to continue to succeed and lead in the years ahead.”

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About Author

Kirsten Hastings

Senior Reporter

Kirsten is a senior reporter for International Adviser, covering global news stories about the financial services industry. She joined Last Word Media in October 2015 after two years working as a reporter covering the staffing and recruitment industry. Kirsten has a Masters in Financial Journalism from the University of Stirling. 

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