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This article is about the asset management firm in Massachusetts. For the defunct British firm, see Barings Bank.
Barings
Company type Subsidiary
Industry Financial services
Founded1940 [1]
Headquarters Charlotte, North Carolina
Area served
Worldwide
Key people
Mike Freno [2] [3] [4]
(Chairman and CEO)
Products Asset management
AUMUS$381+ billion (December 2023) [5]
OwnerMassMutual Financial Group
Number of employees
1,800+ employees globally [6]
Parent Massachusetts Mutual Life Insurance Company
Website www.barings.com

Barings LLC, known as Barings, is a global investment management firm owned by Massachusetts Mutual Life Insurance Company ( MassMutual). It operates as a subsidiary of MassMutual Financial Group, a diversified financial services organization. [7]

As of December 31, 2023 Barings held US$381+ billion in assets under management. [8] Barings has over 1,800 professionals and offices in 16 countries. [6]

Services

Barings is a global investment manager.

History

Main articles: Barings Bank and Baring family

Barings, originally established as a firm of merchants and merchant bankers, was formed in London in 1762. [1]

In the 1950s, Barings realised the potential of asset management and set up its own investment department in 1955. [9] [10] Clients were corporate clients, sovereign connections, pension funds and charitable institutions. In the 1970s, Barings expanded this business internationally with offices in the Far East, North America and Europe. [11] In 1989, Barings combined all of its asset management activities within Baring Asset Management Limited, headquartered in London. [12] In 1995, Barings Bank, the oldest investment bank in Britain, collapsed as a result of unauthorised trading by its head derivatives trader in Singapore, Nick Leeson, who was imprisoned for six and a half years in Singapore. [13] It was then bought for £1 by ING Group, a Dutch bank. [14]

In March 2005, Baring Asset Management was split and Massachusetts Mutual Life Insurance Company ( MassMutual) acquired Baring Asset Management's investment management activities and the rights to use the Baring Asset Management name. [15] [16] Northern Trust acquired Baring Asset Management’s Financial Services Group. [17]

In September 2016, MassMutual merged Babson Capital Management, Wood Creek Capital Management, Cornerstone Real Estate Advisers, and Baring Asset Management to form Barings. [6]

Recent notable[ citation needed] events

2010 – Baring Asset Management wins the Queen’s Award for Enterprise 2010 in the International Trade Category [18]

2012 – 250th Anniversary [19]

2013 – Baring Asset Management completes acquisition of SEI Asset Korea Co., Ltd (SEIAK) [20]

2016 – Barings is formed after MassMutual merges Babson Capital Management, Wood Creek Capital Management, Cornerstone Real Estate Advisers and Baring Asset Management. [6]

2018 - Barings Acquires Triangle Capital Corporation (Renamed Barings BDC INC.)

2020 - Barings BDC Closes Merger with MVC Capital

2021 - Barings BDC closes merger with Sierra Income Corporation

2022 - Barings Acquires Altis Property Partners


References

  1. ^ a b Tony Tassell (17 November 2004). "Final Step in Dismemberment of BAM". UK: Financial Times. Retrieved 10 October 2013.
  2. ^ Choudhury, Saheli Roy (2019-04-25). "Barings CEO: We 'won't be going to Russia anytime soon'". CNBC. Retrieved 2020-06-11.
  3. ^ "PIMCO, GoldenTree Execs Warn of Investing's New Table Stakes". Institutional Investor. Retrieved 2020-06-11.
  4. ^ Shaffer, Leslie (2017-09-17). "Where big money investors are putting their fixed income dollars". CNBC. Retrieved 2020-06-11.
  5. ^ "Barings.com". www.barings.com. 5 February 2022. Retrieved 2024-01-10.
  6. ^ a b c d Chris Newlands (September 12, 2016). "MassMutual merger revives Barings brand". Financial Times.
  7. ^ "MassMutual to buy Baring Asset unit". UK: BizJournal. 20 November 2004. Retrieved 20 June 2013.
  8. ^ "Barings Website - About Us". www.barings.com. June 30, 2021. Archived from the original on 2020-02-08.
  9. ^ "Risks and Rewards: Merchant banking". UK: Risk and Rewards. Retrieved 20 June 2013.
  10. ^ "Timeline (1950s)". UK: The Baring Archive(charity). Archived from the original on 14 October 2013. Retrieved 10 October 2013.
  11. ^ "Baring Asset Management". UK: Invest offshore directly. Archived from the original on 30 September 2013. Retrieved 20 June 2013.
  12. ^ "Timeline (1989)". UK: The Baring Archive(charity). Archived from the original on 14 October 2013. Retrieved 10 October 2013.
  13. ^ "Implications of the Barings Collapse for Bank Supervisors" (PDF). Reserve Bank of Australia. 1995. Archived from the original (PDF) on 2007-09-01. Retrieved 2007-11-18.
  14. ^ Howard Chua-Eoan (2007). "The Collapse of Barings Bank, 1995". Time. Archived from the original on 2007-11-16. Retrieved November 16, 2007.
  15. ^ "ING ends link with Baring name". UK: BBC News. 22 November 2004.
  16. ^ "Business: MassMutual to buy part of Barings business". Boston.com. 23 November 2004.
  17. ^ "ING sells Baring Asset Management". Financial News. November 22, 2004.
  18. ^ "Award Winners – Baring Asset Management Limited". UK: The Queen’s Awards for Enterprise Magazine. Archived from the original on 21 June 2013. Retrieved 20 June 2013.
  19. ^ "Barings celebrates 250th anniversary". UK: Actuarial Post. Retrieved 20 June 2013.
  20. ^ "Barings Enters Korea's Asset Management Market". UK: The Wall Street Journal. 16 April 2013. Retrieved 20 June 2013.

Further reading

  • Philip Ziegler, The Sixth Great Power: Barings 1762-1929 (1988). London: HarperCollins Publishers Limited. ISBN  0-00-217508-8.
  • John Orbell (1995), Baring Brothers & Co., Limited: a history to 1939. London: Baring Brothers & Company

External links

Retrieved from " https://en.wikipedia.org/?title=Barings_LLC&oldid=1196404868"