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Barings joins with three firms for AM mega-merger

Barings joins with three firms for AM mega-merger
Barings Asset Management is set to join with three other companies as part of plans by MassMutual Financial Group to consolidate its asset management efforts.

The change will see Barings, Babson Capital Management, Cornerstone Real Estate Advisers and Wood Creek Capital combine under the Barings brand.

The move would see the newly-combined asset management arm have a total of $260 billion in assets under management covering 20 countries and accounting for 2,700 employees.

The new firm will be led by Tom Finke, who is the current chairman and CEO of Babson Capital Management. Under the restructure, the new group will be headquartered in Charlotte, North Carolina.

The move by MassMutual is designed to consolidate its existing asset management operations as one unified global company. It will see expertise in fixed income, equity, multi-asset, real estate, real assets and alternatives all brought under one roof.

In addition to the asset management operations being combined, the company will also share distribution and marketing capabilities to support the new global firm.

MassMutual expects to close the initial phase of the integration during the fourth quarter of this year, subject to required regulatory approval.

Commenting on the move, Finke said: ‘Together, Babson, Barings, Cornerstone, and Wood Creek offer institutional and retail investors worldwide a compelling array of investment offerings. As a unified firm we will be better able to deliver our diverse and global investment offerings to clients.’

As a result of the combination, the Barings brand and logo will be refreshed to reflect the global nature of the new Barings and signify the unified platform of the affiliates. The choice to retain the Barings brand reinforces the global aspect of the new firm, the diversified nature of its client base, and the Barings heritage which dates back to 1762.

MassMutual is headquartered in Springfield, Massachusetts and its major affiliates include: Babson Capital Management; Baring Asset Management; Cornerstone Real Estate Advisers; The First Mercantile Trust Company; MassMutual International; MML Investors Services, Member FINRA and SIPC; OppenheimerFunds; and The MassMutual Trust Company.

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