Articles from Barings

Barings, one of the world’s largest diversified real estate investment managers, and Trinity Capital, a Charlotte-based commercial real estate development firm, announced today that they have commenced construction on Phase II of Horizon 16 Industrial Park, a joint venture logistics park in Savannah, GA. Phase II will focus on six buildings across 1.5 million square feet of Class-A industrial space designed to meet the needs of regional, national, and international distributors, manufacturers, and logistics firms.

Barings, one of the world’s largest diversified real estate investment managers, announced today that it has jointly originated a $113 million debt package alongside affiliates of Apollo (NYSEAPO) to refinance the Westin Indianapolis (the “Hotel”) in downtown Indianapolis. An affiliate of KSL Capital Partners (“KSL”) has owned the Hotel since 2019.

Barings, one of the world’s largest diversified real estate investment managers, announced today that it has provided financing to support Berkeley Partners’ acquisition of a warehouse campus located at 104th Commerce Park in Commerce City, Colorado.

Barings, one of the world’s leading investment managers, announced today that it has named Nicholas Mavro as Managing Director, Head of Global Consultant Relations, effective immediately. In his new role, Mavro will be responsible for overseeing a global strategy to strengthen and expand Barings’ relationships with investment consultants to drive business development.

The Barings Global Short Duration High Yield Fund (the “Fund”) (NYSEBGH) announced its monthly dividend for January 2025 of $0.1223 per share, payable on February 3, 2025. Based on the Fund’s December 31, 2024 share price of $15.44 per share, the dividend represents an annualized yield of 9.51% per share. Based on current projections through the payable date, the Fund expects that this dividend will be comprised of net investment income.

Barings, one of the world’s largest diversified real estate investment managers, announced today that it has provided a $115 million loan to refinance the Renaissance Boston Seaport Hotel (“the Hotel”) in Boston. A joint venture between affiliates of Rockpoint, Highgate and hotelAVE (its asset manager) has owned the Hotel since 2015.

The Board of Trustees of Barings Corporate Investors (NYSEMCI) (the “Trust”) today announced that it has declared a quarterly dividend of $0.40 per share payable on January 17, 2025, to shareholders of record on December 30, 2024. The Trust also announced a special distribution of $0.10 per share payable on January 17, 2025, to shareholders of record on December 30, 2024. Based on current projections through the end of 2024, the Trust expects both dividends will be comprised of net investment income. The final determination of the source and tax characteristics of these distributions will depend upon the Trust’s investment experience during its fiscal year and will be made after the Trust’s year end and will be reported on IRS Form 1099-Div.

The Board of Trustees of Barings Participation Investors (NYSEMPV) (the “Trust”) today announced that it has declared a quarterly dividend of $0.37 per share payable on January 17, 2025, to shareholders of record on December 30, 2024. The Trust also announced a special distribution of $0.10 per share payable on January 17, 2025, to shareholders of record on December 30, 2024. Based on current projections through the end of 2024, the Trust expects both dividends will be compromised of net investment income. The final determination of the source and tax characteristics of these distributions will depend upon the Trust’s investment experience during its fiscal year and will be made after the Trust’s year end and will be reported on IRS Form 1099-Div.

Barings, one of the world’s largest diversified real estate investment managers, announced today that industry veteran Joel Pecoy has joined Barings to lead U.S. Real Estate Debt Asset Management, effective immediately. In his new role, Pecoy will be responsible for managing an approximately $25 billion real estate debt portfolio covering nearly 380 assets in the U.S. He will join the U.S. Real Estate Debt Investment Committee and oversee a team of 12 asset managers and servicers, reporting to Nasir Alamgir, Head of U.S. and European Real Estate Debt.

The Barings Global Short Duration High Yield Fund (the “Fund”) (NYSEBGH) announced its monthly dividend for December 2024 of $0.1223 per share, payable on January 2, 2025. Based on the Fund’s November 29, 2024 share price of $15.88 per share, the dividend represents an annualized yield of 9.24% per share. Based on current projections through the payable date, the Fund expects that this dividend will be comprised of net investment income.

The Barings Global Short Duration High Yield Fund (the “Fund”) (NYSEBGH) announced its monthly dividend for November 2024 of $0.1223 per share, payable on December 2, 2024. Based on the Fund’s October 31, 2024 share price of $15.35 per share, the dividend represents an annualized yield of 9.56% per share. Based on current projections through the payable date, the Fund expects that this dividend will be comprised of net investment income.

Barings, one of the world’s largest diversified real estate investment managers, announced today that it has provided a $24 million loan to refinance the existing loan on the Residence Inn Tempe Downtown/University by Marriott in Tempe, Arizona. Owned by Tempe RI, LLC, an affiliate of the Finvarb Group, led by Ronny Finvarb and Richard Finvarb, the property was developed in 2013 and completed a full renovation in early 2024.

Barings, one of the world’s leading investment managers, today announced that it has served as lead agent, sole lender, and minority equity investor to provide financing support for The Zabel Companies’ (“Zabel”) purchase of Golden Ceramic Dental Lab (“GCDL” or “the Company”). Based in Prospect Heights, IL, GCDL is a leading full-service dental laboratory specializing in implants, removables, crowns and bridges, orthodontics, digital dentures, clear aligners, and sleep solutions.

Barings, one of the world’s leading investment managers, today announced it has served as lead agent for a senior secured facility to support private equity firm Vance Street Capital’s investment in Pro-Vision. Headquartered in Grand Rapids, MI, Pro-Vision is an end-to-end mobile video solution provider that specializes in designing, assembling, and bundling a comprehensive and customizable suite of video solutions for critical asset monitoring.

Barings, one of the world’s largest diversified real estate investment managers, announced today that it has provided a $134 million loan to refinance the existing loan on Smoky Hollow in Raleigh, North Carolina. A joint venture between Kane Realty Corporation, Williams Realty & Building Company, and Lionstone Investments delivered the mixed use development in 2020.

Barings, one of the world’s leading investment managers, today announced that it has served as lead agent, arranger, and bookrunner on a debt financing to support AEA Investors’ (“AEA”) recapitalization of Connexus Resource Group (“Connexus”).

The Barings Global Short Duration High Yield Fund (the “Fund”) (NYSEBGH) announced its monthly dividend for October 2024 of $0.1056 per share, payable on November 1, 2024. Based on the Fund’s September 30, 2024 share price of $15.18 per share, the dividend represents an annualized yield of 8.35% per share. Based on current projections through the payable date, the Fund expects that this dividend will be comprised of net investment income.

Barings, one of the world’s leading investment managers, announced today that it has named industry veterans Ilena Coyle and Graham Seagraves as Co-Leaders of Distribution for North America, effective immediately. Coyle, who will assume an expanded role as Head of North American Insurance and Intermediary, and Seagraves, who will serve as Head of North American Institutional and Consultant Relations, will together oversee the firm’s regional strategy to expand Barings’ strategic relationships with existing and prospective clients, reporting to Global Head of Distribution Neil Godfrey.

Barings, one of the world’s leading investment managers, today announced that it has served as sole lender to provide senior debt financing and an equity co-investment to support Long Point Capital’s (“LPC") investment in BKF Engineers.

The Barings Global Short Duration High Yield Fund (the “Fund”) (NYSEBGH) announced its monthly dividend for September 2024 of $0.1056 per share, payable on October 1, 2024. Based on the Fund’s August 30, 2024 share price of $15.11 per share, the dividend represents an annualized yield of 8.39% per share. Based on current projections through the payable date, the Fund expects that this dividend will be comprised of net investment income.

Barings, one of the world’s largest diversified real estate investment managers, announced today that it has provided a $160 million construction loan alongside $155.5 million in C-PACE financing from a subsidiary of Counterpointe Sustainable Advisors (“Counterpointe”) for the development of Habitat, a live-work-thrive campus in Los Angeles with creative office, luxury residential, retail, and an integrated park.

The Barings Global Short Duration High Yield Fund (the “Fund”) (NYSEBGH) announced its monthly dividend for August 2024 of $0.1056 per share, payable on September 3, 2024. Based on the Fund’s July 31, 2024 share price of $15.02 per share, the dividend represents an annualized yield of 8.43% per share. Based on current projections through the payable date, the Fund expects that this dividend will be comprised of net investment income.

Barings, one of the world’s largest diversified real estate investment managers, announced today that it has provided a $114 million loan to a joint venture sponsored by Tolles Development to finance Airway Commerce Center, a newly built 893,000 square foot industrial warehouse distribution property located in Reno, Nevada.

Barings, one of the world’s leading investment managers, today announced it has served as lead senior agent to provide $200 million in committed senior debt financing to support Kian Capital Partners’ (“Kian”) sale of SPATCO Energy Solutions (“SPATCO” or “the Company”) into a single-asset continuation fund investment vehicle managed by Kian.

Barings, one of the world’s leading investment managers, today announced it has provided a second lien debt and equity co-investment to support Mill City Capital’s recapitalization of Diversified Packaging Holdings, LLC. Headquartered in Blaine, Minnesota, Diversified Packaging is a provider of pre-press products and services to the packaging industry, serving commercial printing companies, corrugate packaging companies, and various other customers across the upper Midwest U.S.

Barings, one of the world’s largest diversified real estate investment managers, announced today that it has provided a $244 million loan to refinance a portfolio of 10 warehouse & distribution facilities totaling 6.4 million square feet in Logistics Park Kansas City, Edgerton, Kansas.

Barings, one of the world’s largest diversified real estate investment managers, announced today that it has provided a $102 million construction loan alongside $63.3 million in C-PACE financing from Counterpointe Sustainable Real Estate for the development of The Corbin District – Phase II in Darien, Connecticut. Baywater Properties, which completed Phase I of the project in 2022, has launched the second phase of construction to further enhance Darien’s downtown core.

The Barings Global Short Duration High Yield Fund (the “Fund”) (NYSEBGH) announced its monthly dividend for July 2024 of $0.1056 per share, payable on August 1, 2024. Based on the Fund’s June 28, 2024 share price of $14.45 per share, the dividend represents an annualized yield of 8.77% per share. Based on current projections through the payable date, the Fund expects that this dividend will be comprised of net investment income.

The Barings Global Short Duration High Yield Fund (the “Fund”) (NYSEBGH) announced its monthly dividend for June 2024 of $0.1056 per share, payable on July 1, 2024. Based on the Fund’s May 31, 2024 share price of $14.19 per share, the dividend represents an annualized yield of 8.93% per share. Based on current projections through the payable date, the Fund expects that this dividend will be comprised of net investment income.

Barings, one of the world’s leading investment managers, today announced that banking industry veteran Robert Cammilleri has joined Barings’ Capital Markets and Strategic Relationship Management Group as a Managing Director and Global Head of Fund and Asset Level Finance, effective today. In this role, Cammilleri will focus on securing financing needs for Barings teams globally at both the asset and fund levels. Based in New York, he will report to Mike Henderlong, Global Head of Barings’ Capital Markets and Strategic Relationship Management Group, which is responsible for Barings’ global counterparty relationships with banks, large diversified sponsors and peers spanning global markets, investment banking, custodial, origination and fund and asset level financing functions.

Barings, one of the world’s leading investment managers, today announced that private credit veteran Bob Shettle will join Barings’ Global Private Finance Group as a Managing Director and will join the firm’s North America Private Finance Investment Committee, effective at the end of May. Shettle, who previously spent more than two decades at Barings, will focus on investment origination in North America. Based in New York, Shettle will report to Tyler Gately, Head of North America Private Credit.

Barings, one of the world’s leading investment managers, served as lead agent, sole lender, and minority equity investor to provide financing support for The Zabel Companies’ (“Zabel”) purchase of SVI International (“SVI” or “the Company”). Headquartered in DeKalb, IL, SVI is the leading supplier of aftermarket repair parts and accessories for automotive lifts, wheel service and automotive shop equipment, and other specialty applications.

The Barings Global Short Duration High Yield Fund (the “Fund”) (NYSEBGH) announced its monthly dividend for May 2024 of $0.1056 per share, payable on June 3, 2024. Based on the Fund’s April 30, 2024 share price of $13.93 per share, the dividend represents an annualized yield of 9.10% per share. Based on current projections through the payable date, the Fund expects that this dividend will be comprised of net investment income.

Barings, one of the world’s leading investment managers, today announced it has provided mezzanine debt to support Sky Island Capital’s investment in USA Industries, LLC. Headquartered in Houston, TX, USA Industries is a manufacturer, supplier, and rental provider of pipe isolation and testing products, tube plugs, flow measurement orifice plates, and heat exchanger tools to petrochemical, chemical, and other industrial facilities.

The Barings Global Short Duration High Yield Fund (the “Fund”) (NYSEBGH) announced its monthly dividend for April 2024 of $0.1056 per share, payable on April 1, 2024. Based on the Fund’s March 28, 2024 share price of $14.30 per share, the dividend represents an annualized yield of 8.86% per share. Based on current projections through the payable date, the Fund expects that this dividend will be comprised of net investment income.

Barings, one of the world’s largest diversified real estate investment managers, announced today that it has provided a $78 million loan to refinance The Townsend, a recently delivered, best-in-class 277-unit LEED Gold multifamily project located in the Mission Valley submarket of San Diego, California.

Barings, one of the world’s leading investment managers, served as lead agent, joint lead arranger, and joint bookrunner to provide a $465 million debt financing to support Morgan Stanley Capital Partners’ (“MSCP”) sale of World 50 Parent LLC and its related subsidiary companies (“World 50” or “the Company”) to a single asset GP-led continuation fund investment vehicle managed by an affiliate of MSCP.

The Barings Global Short Duration High Yield Fund (the “Fund”) (NYSEBGH) announced its monthly dividend for March 2024 of $0.1056 per share, payable on April 1, 2024. Based on the Fund’s February 29, 2024 share price of $14.21 per share, the dividend represents an annualized yield of 8.92% per share. Based on current projections through the payable date, the Fund expects that this dividend will be comprised of net investment income.

The Barings Global Short Duration High Yield Fund (the “Fund”) (NYSEBGH) announced its monthly dividend for February 2024 of $0.1056 per share, payable on March 1, 2024. Based on the Fund’s January 31, 2024 share price of $13.96 per share, the dividend represents an annualized yield of 9.08% per share. Based on current projections through the payable date, the Fund expects that this dividend will be comprised of net investment income.

Barings, one of the world’s largest diversified real estate investment managers, announced today that it has provided an $84 million loan to refinance the existing loan on Hotel Commonwealth (“the Hotel”) in Boston, Massachusetts. Ohana Real Estate Investors acquired the 245-room hotel in November 2020.

The Barings Global Short Duration High Yield Fund (the “Fund”) (NYSEBGH) announced its monthly dividend for January 2024 of $0.1056 per share, payable on February 1, 2024. Based on the Fund’s December 29, 2023 share price of $13.44 per share, the dividend represents an annualized yield of 9.43% per share. Based on current projections through the payable date, the Fund expects that this dividend will be comprised of net investment income.

The Board of Trustees of Barings Participation Investors (NYSEMPV) (the “Trust”) today announced that it has declared a quarterly dividend of $0.35 per share payable on January 19, 2024, to shareholders of record on December 29, 2023. The final determination of the source and tax characteristics of these distributions will depend upon the Trust’s investment experience during its fiscal year and will be made after the Trust’s year end and will be reported on IRS Form 1099-Div.

The Board of Trustees of Barings Corporate Investors (NYSEMCI) (the “Trust”) today announced that it has declared a quarterly dividend of $0.38 per share payable on January 19, 2024, to shareholders of record on December 29, 2023. The final determination of the source and tax characteristics of these distributions will depend upon the Trust’s investment experience during its fiscal year and will be made after the Trust’s year end and will be reported on IRS Form 1099-Div.

The Barings Global Short Duration High Yield Fund (the “Fund”) (NYSEBGH) announced its monthly dividend for December 2023 of $0.1056 per share, payable on January 2, 2024. Based on the Fund’s November 30, 2023 share price of $12.92 per share, the dividend represents an annualized yield of 9.81% per share. Based on current projections through the payable date, the Fund expects that this dividend will be comprised of net investment income.

The Barings Global Short Duration High Yield Fund (the “Fund”) (NYSEBGH) announced its monthly dividend for November 2023 of $0.1056 per share, payable on December 1, 2023. Based on the Fund’s October 31, 2023 share price of $12.10 per share, the dividend represents an annualized yield of 10.47% per share. Based on current projections through the payable date, the Fund expects that this dividend will be comprised of net investment income.

Barings, one of the world’s largest diversified real estate investment managers, today announced its joint venture with Foulger Pratt to acquire a 172-unit build-to-rent (BTR) community in the Raleigh, N.C. metropolitan area. The $50+ million acquisition marks Barings’ entrance into the BTR market and builds on the firm’s $12.5+ billion* U.S. real estate equity platform. The transaction brings Foulger Pratt’s BTR portfolio to 700 homes and approximately $250 million in investment across North Carolina and Maryland.

The Barings Global Short Duration High Yield Fund (the “Fund”) (NYSEBGH) announced its monthly dividend for October 2023 of $0.1056 per share, payable on November 1, 2023. Based on the Fund’s September 29, 2023 share price of $12.70 per share, the dividend represents an annualized yield of 9.98% per share. Based on current projections through the payable date, the Fund expects that this dividend will be comprised of net investment income.

The Barings Global Short Duration High Yield Fund (the “Fund”) (NYSEBGH) announced its monthly dividend for September 2023 of $0.1056 per share, payable on October 2, 2023. Based on the Fund’s August 31, 2023 share price of $13.19 per share, the dividend represents an annualized yield of 9.61% per share. Based on current projections through the payable date, the Fund expects that this dividend will be comprised of net investment income.

The Board of Trustees of Barings Participation Investors (NYSEMPV) (the "Trust") met on August 17, 2023 and would like to report its preliminary financial results for the second quarter of 2023.

The Barings Global Short Duration High Yield Fund (the “Fund”) (NYSEBGH) announced its monthly dividend for August 2023 of $0.1056 per share, payable on September 1, 2023. Based on the Fund’s July 31, 2023 share price of $13.38 per share, the dividend represents an annualized yield of 9.47% per share. Based on current projections through the payable date, the Fund expects that this dividend will be comprised of net investment income.

Barings, one of the world’s leading investment managers, today announced it has entered into a strategic partnership with Lakemore Partners Ltd. and its group entities (“Lakemore”), a leading private credit investment firm primarily investing in super-majority control collateralized loan obligation (CLO) equity.

The Barings Global Short Duration High Yield Fund (the “Fund”) (NYSEBGH) announced its monthly dividend for July 2023 of $0.1056 per share, payable on August 1, 2023. Based on the Fund’s June 30, 2023 share price of $13.04 per share, the distribution represents an annualized yield of 9.72% per share. Based on current projections through the payable date, the Fund expects that this distribution will be comprised of net investment income.

Barings, one of the world’s largest diversified real estate investment managers, today announced that they have partnered with Greatland Realty Partners to acquire 275 Grove Street in Boston MSA’s premier 128 West submarket. Located adjacent to Riverside Station at the western terminus of the MBTA Green Line, the property offers nearly 510,000 square feet of best-in-class office space, with an opportunity to convert into office and lab space.

The Barings Global Short Duration High Yield Fund (the “Fund”) (NYSEBGH) announced its monthly dividend for June 2023 of $0.1056 per share, payable on July 3, 2023. Based on the Fund’s May 31, 2023 share price of $12.72 per share, the distribution represents an annualized yield of 9.96% per share. Based on current projections through the payable date, the Fund expects that this distribution will be comprised of net investment income.

Barings, one of the world's leading investment managers, today announced it had served as lead arranger and administrative agent for a senior secured facility to support Harbour Group’s investment in Americo Chemical Products, Inc. (“Americo”). Founded in 1989 and headquartered in Elgin, IL, Americo is a leading provider of innovative chemical solutions for industries that require surface treatment of metal and other substrates. Its solutions include chemistries for metal treatment, wastewater treatment, and other specialty applications. Financial terms of the transaction were not disclosed.

The Barings Global Short Duration High Yield Fund (the “Fund”) (NYSEBGH) announced its monthly dividend for May 2023 of $0.1056 per share, payable on June 1, 2023. Based on the Fund’s April 28, 2023 share price of $13.11 per share, the distribution represents an annualized yield of 9.67% per share. Based on current projections through the payable date, the Fund expects that this distribution will be comprised of net investment income.

Barings, one of the world’s leading investment managers, announced today that it has provided a $101.5 million bridge loan to refinance the existing construction loan on the Courtyard/Residence Inn By Marriott Washington Downtown Convention Center (“the Hotel”).

Barings, one of the world’s largest diversified real estate investment managers, today announced the successful close of its inaugural Barings Innovation and Growth Real Estate Fund (“BIG”) and associated vehicles at $680 million, surpassing its target of $500 million. The strategy, which received interest from public and corporate pension plans, insurance companies, and endowments across the U.S. and Europe, seeks to capitalize on fundamental demand drivers in the life science and STEM office space in key markets which attract and retain highly educated and innovative workforces.

The Barings Global Short Duration High Yield Fund (the “Fund”) (NYSEBGH) announced its monthly dividend for April 2023 of $0.1056 per share, payable on May 1, 2023. Based on the Fund’s March 31, 2023 share price of $12.90 per share, the distribution represents an annualized yield of 9.82% per share. Based on current projections through the payable date, the Fund expects that this distribution will be comprised of net investment income.

Barings, one of the world’s leading investment managers, today announced it had served as lead agent for a senior secured facility to support private investment firm Ethos Capital’s investment in Newforma, Inc. Headquartered in Boston, MA, Newforma is a leading collaboration platform helping companies deliver complex architectural, engineering, and construction projects more efficiently and cost-effectively.