Barings closes its inaugural Innovation and Growth Real Estate Fund with a $680 million investment

Barings

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Barings, one of the world’s biggest diversified real estate investment managers, announced today that its inaugural Barings Innovation and Growth Real Estate Fund (“BIG”) and associated vehicles were successfully closed at $680 million, exceeding its target of $500 million.

The strategy, which has piqued the interest of public and corporate pension plans, insurance companies, and endowments in the United States and Europe, aims to capitalize on fundamental demand drivers in the life science and STEM office space in key markets that attract and retain highly educated and innovative workforces.

At Barings, we believe that high-quality office properties that attract high-caliber life science and technology tenants, who continue to drive improvements in healthcare and global economic growth, have a strong relative value.

Since the beginning of the pandemic, the lease performance of this specialist subset of office has significantly outpaced the broader office market, said Joe Gorin, Barings’ Head of U.S. Real Estate Equity Acquisitions and Portfolio Management.

We are fortunate to have additional capital with which to invest in assets that we believe will be attractively priced in strategic markets with high levels of educational attainment and STEM employment.

Joe Gorin and John Kolb will co-manage the fund, with assistance from a large team that includes Maureen Joyce, Head of US Real Estate Equity Asset Management. To carry out the Innovation and Growth strategy, the team will make use of Barings’ extensive U.S. platform.

Barings has been investing in US real estate equity for over 25 years and now has $36.2 billion* in US real estate AUM across equity and debt, with almost 140 dedicated real estate investment experts managing more than 550 assets across six US offices.

Barings Real Estate is a subsidiary of Barings that provides a diverse variety of global investment possibilities in the private debt and equity markets. BRE invests in all major property sectors and provides real estate borrowers with a wide choice of financing options.

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