New Barings Launches Today

Combination of MassMutual affiliates creates a $275B+ global asset manager with distinctive expertise across traditional and alternative asset classes

CHARLOTTE, N.C., Sept. 12, 2016 (GLOBE NEWSWIRE) -- Babson Capital Management announced today that it has successfully completed the integration of four Massachusetts Mutual Life Insurance Company (MassMutual) institutional affiliates (previously announced on March 9). Babson Capital Management LLC, its subsidiaries Cornerstone Real Estate Advisers LLC and Wood Creek Capital Management, LLC, and Baring Asset Management Limited are now operating as a unified company under the Barings name. 

The Barings brand and logo have been refreshed, reflecting a modern and forward-looking asset management firm committed to meeting the evolving investment and capital needs of its clients.  

"This merger marks an exciting moment in our history, and it enhances our ability to provide comprehensive, innovative solutions to help our clients meet their investment objectives," commented Tom Finke, Chairman and Chief Executive Officer of Barings. "The new Barings possesses expanded depth and breadth of expertise across the global fixed income, equity, real estate and alternative asset markets. In addition, our integrated global footprint gives us a broader perspective, access to a more-diverse set of opportunities and strengthens our ability to invest across global markets."

With this integration, Barings becomes one of the world's largest and most diversified asset management organizations that has:

• More than $275 billion in client assets under management
• Over 1,700 employees in 41 offices across 17 countries
• Over 600 investment professionals globally across a broad range of asset classes

Within the newly created organization, each investment area will have dedicated leadership:

• Russ Morrison will serve as the firm's President and lead global fixed income, equity and multi-asset strategies;
• Scott Brown will lead global real estate; and
• Anthony Sciacca will lead global alternative investments and private equity.

Roger Crandall, Chairman, President and CEO, MassMutual, commented:  "We are extremely pleased to reach this important milestone, bringing together our world-class, institutional asset management affiliates into a unified global asset manager and broadening our offerings and commitment to clients around the world. Importantly, the launch of the 'new' Barings builds on the distinctive legacies of these four firms, represents an important strategic step forward that further differentiates us in the marketplace and positions our asset management operations to continue to succeed and lead in the years ahead."

About Barings, LLC

Barings is a $275 billion* global asset management firm dedicated to meeting the evolving investment and capital needs of our clients. We build lasting partnerships that leverage our distinctive expertise across traditional and alternative asset classes to deliver innovative solutions and exceptional service. A member of the MassMutual Financial Group, Barings maintains a strong global presence with over 1,700 employees and 600 investment professionals across 41 offices in 17 countries. Learn more, at www.barings.com.

*As of June 30, 2016.

Media Contacts:

Barings:

• Brian Whelan, Head of Corporate Communications. 1-980-417-7700, [email protected]

MassMutual:

• Jim Lacey, VP Corporate Communications, 1-413-744-2365, [email protected]

FTI Consulting:

US: Raina Gajjar, FTI Consulting, 1-212-850-5724, [email protected]

UK: James Cheston, FTI Consulting, +44 (0) 203 727 1620, [email protected]

Asia: RLM Finsbury: Asia: Karen Yu, RLM Finsbury, +852 3166 9866, [email protected]