Barings has raised EUR7 billion for the third vintage of its European Private Loan strategy in an oversubscribed fundraising that underlines the buoyant appetite for private credit among investors and issuers worldwide.

Barings – a subsidiary of Springfield, Massachusetts-based insurer MassMutual – said the capital raise had drawn interest from a globally diversified mix of investors spanning public and private pension funds, insurance companies, sovereign wealth funds, and family offices.

The total investable capital of EUR7 billion raised for the new European loan fund vintage exceeded Barings’ initial target – with support being gathered from both new and existing investors, and with more than two thirds of commitments coming from investors in prior funds managed by the firm.

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Barings raises EUR7 billion European loan fund as private debt demand soars