Barings Pauses Certain Private Credit Deals After Defections (2)

Barings LLC is pausing making new investments across certain private credit funds while they transition to new leadership, after over 20 employees left for upstart Corinthia Global Management.

“In accordance with and as permitted by the fund documents, we will continue to call capital to pay down financing facilities, to honor previously committed or approved deals, add-ons or unfunded facilities, or for expenses,” a client letter seen by Bloomberg News states.

“For our commingled private funds and our private segregated funds, regardless of whether a key person event has been triggered, we are pausing on making brand new investments ...