Babson Capital Management, Three other MassMutual Affiliates to Combine Under Barings Name

Mar 10 2016 | 9:33pm ET

Babson Capital Management, Cornerstone Real Estate Advisers, Wood Creek Capital Management and Baring Asset Management will combine into a single entity operating under the Barings brand.

Meshing the four firms, all affiliates of MassMutual, will result in a global multi-asset money manager with more than $260 billion in AUM deployed across a wide range of fixed income, equity, multi-asset, real estate, real assets, and alternative strategies, according to a statement released yesterday.

The new entity will be led by Babson CEO Tom Finke and use some variant of the Barings brand still to be determined. It will be headquartered in Charlotte, NC

The step is being driven by trends in the global institutional asset management industry, noted Finke in an interview with Pensions & Investments. Integrating the capabilities of all four affiliates results in a more efficient distribution platform and greater flexibility to respond to investor demand for both multi-asset specialization and scale. 

"This combination is highly complementary in terms of asset classes, distribution footprint, and shared commitment to excellence," said Tom Finke in the statement. " As a unified firm we will be better able to deliver our diverse and global investment offerings to clients."

The choice to retain the Barings brand reinforces the global aspect of the new firm, the diversified nature of its client base, and Barings’ heritage dating back to 1762, the statement said. 

The initial phase of the integration is expected to close during the fourth quarter of this year, the company said, subject to required regulatory approval. 

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