Corinthia Approached Barings to Buy Assets, Manage Portfolios

Upstart private credit firm Corinthia Global Management approached Baringsand parent MassMutual about buying certain Barings assets and overseeing some of its portfolios, after poaching more than 20 people from the firm, according to people with knowledge of the matter.

Corinthia proposed acquiring assets from Barings including the firm’s shares in Barings BDC, its publicly-traded business development company, at market value, one of the people said, asking not to be named discussing a private matter. That stake is valued at more than $100 million, according to Barings’ most recent regulatory filings.

The new private credit manager also offered to ...