Barings faces suspension of private credit funds after senior leadership exodus

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Barings faces suspension of private credit funds after senior leadership exodus

Josie Shillito's avatar
Amaya Urgoiti Basurto's avatar
  1. Josie Shillito
  2. +Amaya Urgoiti Basurto
5 min read

Private credit funds operated by global asset manager Barings face suspension or termination following the departure of 26 key personnel from the US and European direct lending teams at the beginning of this week (w/c 11 March), sources close to the matter told 9fin.

The resignations of directors and members of the investment committee have triggered key-person provisions across all of Barings’ private credit funds, according to the sources — clauses that recognise a fund’s performance depends on its active management by key people, and protect investors should those people cease to manage the fund.

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