Barings is the latest asset manager to limit redemptions in its private credit fund, capping withdrawals at 5% of shares.
This decision was driven by investor requests to pull out 11.3% of shares in the first quarter, as revealed in a regulatory filing and reported by Reuters.
Non-traded funds like Barings Private Credit typically offer quarterly liquidity to investors, allowing them to redeem shares through tender offers, which are usually capped at 5%.
In this instance, Barings agreed to buy back approximately 44.3% of the shares that investors tendered, based on a pro-rata calculation.
“The fund’s liquidity framework is designed to protect the long-term interests of all shareholders.
By applying this approach consistently, we seek to …
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