Barings Closes Inaugural Innovation and Growth Real Estate Fund at $680 Million

Latest fundraise expands Barings’ $13.1+ billion* U.S. real estate equity platform

CHARLOTTE, N.C.--(BUSINESS WIRE)--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.

“At Barings, we believe there is strong relative value for the highest quality office assets that attract high-caliber life science and technology tenants, who continue to drive advancements in healthcare and global economic growth. The leasing performance of this specialized subset of office has substantially outperformed the overall office market since the beginning of the pandemic,” said Joe Gorin, Barings’ Head of U.S. Real Estate Equity Acquisitions and Portfolio Management. “We are fortunate to have additional capital that we can invest into what we believe will be attractively priced assets in strategic markets with high degrees of educational attainment and STEM employment.”

Joe Gorin and John Kolb will co-manage the fund with support from a broad team, including Maureen Joyce, Head of U.S. Real Estate Equity Asset Management. The team will leverage Barings’ expansive U.S. platform to execute on the Innovation and Growth strategy. Barings has been investing in U.S. real estate equity for more than 25 years and today has $36.2 billion* in U.S. real estate AUM across equity and debt, with nearly 140 dedicated real estate investment professionals across six U.S. offices managing more than 550 assets.

“We believe our team is well-positioned to find significant opportunities for our investors by balancing current dislocation in the real estate market with the continued growth we see in life sciences and STEM-based industries,” said John Ockerbloom, Head of U.S. Real Estate. “We are pleased to have brought a differentiated offering to a broad and diverse group of institutional investors across regions.”

Barings’ $13.1+ billion* U.S. real estate equity platform is a cornerstone of the firm’s $46.5+ billion* global real estate platform, which uncovers value in the interconnectivity between markets, economies, and cycles.

About Barings Real Estate

Barings Real Estate (BRE) is a part of Barings and offers a broad range of global investment opportunities across the private debt and equity investment markets. BRE invests in all major property sectors and offers an expansive range of financing solutions to real estate borrowers. Follow us on LinkedIn at www.linkedin.com/showcase/barings-alternative-investments.

About Barings

Barings is a $347+ billion* global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its clients, communities and employees, and is committed to sustainable practices and responsible investment.

*Assets under management as of December 31, 2022