Barings has announced the final close of Barings Asset-Based Income Fund (BABIF) at $943 million. The firm’s first private equity and real assets fund will target direct, control investments in asset-based businesses across infrastructure, intangible assets and natural resources. Target sectors include aviation leasing, media and entertainment, pharmaceuticals, and financial services.
The School Employees’ Retirement System of Ohio is among the investors in the fund and committed $50 million. The remaining capital was raised from new and existing investors including pension funds, insurance companies, sovereign wealth funds, family offices and foundations based in the US, Europe and Asia-Pacific.