Barings raises $235m

The global financial services firm closes first commingled fund to be invested alongside third-party general partners.

Barings has held a final close of Barings Global Real Assets Fund at $235 million. It is the firm’s first commingled fund to invest alongside third-party managers, targeting natural resources, infrastructure assets and infrastructure companies. The fund will make co-investments, secondaries investments and invest in funds managed by specialist general partners.

The State of Michigan Retirement Systems is among the investors in BGRAF, with a commitment of $100 million. Other investors in the fund, from the US and Asia, include pension funds, insurance companies, family offices and registered investment advisors.