Barings Bemoans One of ‘Largest Corporate Raids’ in Years (1)

“One of the largest corporate raids at an asset manager in years.” As a summing up of what befell private credit stalwart Baringsover a single miserable March weekend, it’s hard to beat.

That the comment came from the firm’s own lawyers in a suit filed on Monday shows the rancor caused by the defection of about two dozen staff to a new private credit outfit, called Corinthia Global Management, that’s backed by Japan’s Nomura Holdings Inc.

The shock exodus — taking out a big chunk of Barings’ private credit arm — and subsequent legal brawl, lay bare the ...