MassMutual completes $275bn asset management merger

Business will remain as usual for the firm’s $5.2bn alternatives platform, which covers infrastructure investments.

US life insurer Massachusetts Mutual Life Insurance has completed the merger of its four asset management affiliates to create a $275 billion global asset management firm under the Barings name. 

The four businesses to be merged are Babson Capital Management, Cornerstone Real Estate Adviser, Wood Creek Capital and Baring Asset Management. 

“The new Barings possesses expanded depth and breadth of expertise across the global fixed income, equity, real estate and alternative asset markets,” said Tim Finke, chairman and chief executive of Barings, in a statement. 

A spokeswoman for Barings told Infrastructure Investor that infrastructure currently resides under their alternatives platform. The unit’s operations are to remain unchanged, she added. 

At present, Barings’ alternatives platform has $2.6 billion deployed into funds and co-investments as well as another $2.6 billion plugged into direct investments, according to its company website. As far as infrastructure is concerned, direct investment covers sectors including transportation, telecoms, energy and agri-infrastructure. 

Russ Morrison, former vice-chairman of Babson, will serve as the firm’s president. He will lead global fixed income, equity and multi-asset strategies while Anthony Sciacca will helm the firm’s global alternative investments and private equity team.