Baring PE passes $2bn mark

Baring Private Equity funds under management rose by 10 per cent in 2001 despite a ‘difficult year’.

Baring Private Equity (BPE), the private equity and asset management division of ING Baring, has announced that its funds under management have surpassed $2bn. BPE’s funds under management increased by 10 per cent in 2001, raising $190m in the process. 

BPE raised several funds over 2001, including the Baring Central European Fund, a buy-and-build fund for Central and Eastern Europe, the Russian-facing Baring Vostok Private Equity Fund and the Baring Asia Private Equity Fund II, a follow on fund investing mainly in China, Taiwan, Hong Kong, Korea and India. 

Around 74 per cent of Baring Private Equity’s capital is generated from a core group of 40 investors and repeat investors who invest in more than one fund. Over 80 per cent of the capital is provided by third-party investors with the remainder provided by parent-company ING Group in the form of seed capital.

Despite the difficult fundraising environment, Baring Private Equity's chief executive Christopher Brotchie was pleased with the company’s performance: '2001 was one of the most difficult years in recent memory for fund raising. $190m of new money is a compelling endorsement from our investors. After six years of growth, Baring Private Equity is now positioned as one of the few international private equity firms that can provide access to all major markets outside the USA.'