MassMutual plans to transition MassMutual Asset Finance (MMAF) and its direct private investments division (DPI), which provides fund financing, to Barings, an investment manager and subsidiary of MassMutual
“We are excited to welcome DPI and MMAF to Barings as we continue to expand our multi-strategy capabilities across public and private asset classes to meet the unique needs of insurance companies and other institutional investors,” Mike Freno, chairman and CEO of Barings, said. “We will continue to partner closely with MassMutual to seek out opportunities to create scale, develop our offerings, and unlock value across our platform.”
DPI provides customized proprietary secured loans to private capital managers and funds backed by a range of private capital assets. The team has originated more than $35 billion in private direct investments since inception and will continue to serve its borrowers with the same standards of confidentiality. Since inception, MMAF has funded more than $20 billion in new equipment purchases.
“Both the DPI and MMAF teams have seen tremendous growth and success in the market with differentiating asset strategies,” Eric Partlan, incoming chief investment officer of MassMutual, said. “By joining Barings and having access to its institutional-quality platform, these teams will be better positioned to continue sourcing high-quality assets and expanding their offerings to third-party investors, ultimately bolstering MassMutual’s efforts to generate long-term value for our policyowners.”
DPI and MMAF will report to Eric Lloyd, president of Barings.
