Barings completes $630m funding for first ever infrastructure debt fund

$130m above target

US based investment management firm Barings has completed fund raising for its new Target Yield Infrastructure Debt fund, exceeding its $500m target.

The fund closed on $630m, $130m above its initial goal. While Barings does have some infrastructure funds already, this is the firm's first step into the infrastructure debt space, despite setting up its infrastructure debt arm in 2013. This strategy will including a mix of public and private pension funds and insurance companies and is focused on OECD countries primarily in North America and Europe. Keeping in line with other Barings infrastructure strategies, the fund will invest in below investment grade debt assets across social and regulated infrastructure, renewables, transportatio...