Barings LLC

Ocular Therapeutix™ Reports Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Monday, March 11, 2024

“Bringing together our dedicated, world-class team of acknowledged strategic and clinical experts has enabled us to position Ocular as a leader in retinal care.

Key Points: 
  • “Bringing together our dedicated, world-class team of acknowledged strategic and clinical experts has enabled us to position Ocular as a leader in retinal care.
  • Total net revenue was $14.8 million for the fourth quarter of 2023, a 5.0% increase over total net revenue of $14.1 million in the comparable period in 2022, driven by DEXTENZA sales.
  • General and administrative expenses were $8.0 million for the fourth quarter of 2023 versus $8.3 million in the comparable quarter of 2022, lower primarily due to a reduction of professional-related fees and other expenses.
  • Non-cash charges for stock-based compensation and depreciation and amortization were $5.3 million in the fourth quarter of 2023 versus $4.7 million for the comparable quarter in 2022.

Easterly Asset Management Partners with Leading Investment Management Firm, Harrison Street

Retrieved on: 
Monday, March 4, 2024

Easterly Asset Management (“Easterly”), a multi-affiliate platform for high-performing boutique investment managers, today announced a strategic partnership with Harrison Street, one of the leading investment management firms exclusively focused on alternative real assets with $56 billion in assets under management as of 12/31/23.

Key Points: 
  • Easterly Asset Management (“Easterly”), a multi-affiliate platform for high-performing boutique investment managers, today announced a strategic partnership with Harrison Street, one of the leading investment management firms exclusively focused on alternative real assets with $56 billion in assets under management as of 12/31/23.
  • Headquartered in Chicago and London, Harrison Street will join Easterly to provide alternative real assets across North America and Europe to clients, expanding Harrison Street’s offerings to the U.S. private wealth space.
  • Harrison Street provides a series of differentiated investment solutions focused on demographic-driven, needs-based assets.
  • Easterly brings a seasoned distribution team to enhance Harrison Street’s asset potential and diversify its client base across channels.

MassMutual Reports Strong 2023 Financial Results Fueled by Company Records

Retrieved on: 
Monday, March 4, 2024

MassMutual today reported strong financial results1 for 2023.

Key Points: 
  • MassMutual today reported strong financial results1 for 2023.
  • 1 These are consolidated statutory results of Massachusetts Mutual Life Insurance Company and its U.S.-domiciled life insurance subsidiaries: C.M.
  • Life Insurance Company, MML Bay State Life Insurance Company and MassMutual Ascend Life Insurance Company.
  • Life Insurance Company and MML Bay State Life Insurance Company, are as follows: A.M. Best Company, A++ (Superior); Fitch Ratings, AA+ (Very Strong); Moody's Investors Service, Aa3 (High Quality); and S&P Global Ratings, AA+ (Very Strong).

Barings Participation Investors Reports Preliminary Fourth Quarter 2023 Results

Retrieved on: 
Monday, February 26, 2024

During 2023, Barings continued to drive origination flow into quality, 1st lien senior secured middle-market investments.

Key Points: 
  • During 2023, Barings continued to drive origination flow into quality, 1st lien senior secured middle-market investments.
  • Net asset value ("NAV") per share as of December 31, 2023, was $15.41, as compared to $15.68 as of September 30, 2023.
  • The Trust realized net capital gains of $198,004 or $0.02 per share during the quarter ended December 31, 2023, which resulted in realized net capital losses for the year ended December 31, 2023, of $333,114 or $0.03 per share.
  • During the quarter ended September 30, 2023, the Trust realized net capital losses of $647,807 or $0.06 per share.

Barings Corporate Investors Reports Preliminary Fourth Quarter 2023 Results

Retrieved on: 
Monday, February 26, 2024

During 2023, Barings continued to drive origination flow into quality, 1st lien senior secured middle-market investments.

Key Points: 
  • During 2023, Barings continued to drive origination flow into quality, 1st lien senior secured middle-market investments.
  • Net asset value ("NAV") per share as of December 31, 2023, was $16.77, as compared to $17.07 as of September 30, 2023.
  • The Trust realized net capital gains of $480,613 or $0.02 per share during the quarter ended December 31, 2023, which resulted in realized net capital losses for the year ended December 31, 2023, of $1,447,280 or $0.07 per share.
  • During the quarter ended September 30, 2023, the Trust realized net capital losses of $1,970,622 or $0.10 per share.

Barings BDC, Inc. Reports Fourth Quarter and Full Year 2023 Results and Announces Quarterly Cash Dividend of $0.26 Per Share

Retrieved on: 
Thursday, February 22, 2024

In the fourth quarter, we out-earned the dividend by approximately 20%, increased net investment income from the third quarter and repurchased 449,096 shares as part of our share repurchase program.

Key Points: 
  • In the fourth quarter, we out-earned the dividend by approximately 20%, increased net investment income from the third quarter and repurchased 449,096 shares as part of our share repurchase program.
  • Net asset value (“NAV”) per share as of December 31, 2023 was $11.28, as compared to $11.25 as of September 30, 2023.
  • During the three months ended December 31, 2023, the Company had seven loans repaid totaling $64.8 million and received $37.2 million of portfolio company principal payments.
  • The Board declared a quarterly cash dividend of $0.26 per share.

Canyon Partners Appoints James Anderson as Head of EMEA Capital Formation

Retrieved on: 
Thursday, February 15, 2024

DALLAS and LONDON, Feb. 15, 2024 /PRNewswire/ -- Canyon Partners ("Canyon"), a ~$25 billion global alternative investment manager founded in 1990, announced James Anderson has joined the firm as Head of EMEA Capital Formation.

Key Points: 
  • DALLAS and LONDON, Feb. 15, 2024 /PRNewswire/ -- Canyon Partners ("Canyon"), a ~$25 billion global alternative investment manager founded in 1990, announced James Anderson has joined the firm as Head of EMEA Capital Formation.
  • Mr. Anderson will be based in Canyon's London office, which has been in operation since 2006 and also houses Canyon's European investment team.
  • We are pleased to have James on board leading our capital formation efforts in EMEA."
  • Most recently, Mr. Anderson served as Head of UK & EMEA Sales and Distribution at Barings (formerly Babson Capital), where he helped establish and was integral to the growth of the company's European business for nearly 13 years.

Barings Global Short Duration High Yield Fund Announces February 2024 Monthly Distribution of $0.1056 per Share

Retrieved on: 
Monday, February 12, 2024

The Fund seeks to pay a distribution at a rate that reflects net investment income actually earned.

Key Points: 
  • The Fund seeks to pay a distribution at a rate that reflects net investment income actually earned.
  • The Fund is a non-diversified, closed-end management investment company that is managed by Barings LLC.
  • The Fund invests primarily in short-duration, global high yield bonds with the objective of seeking as high a level of current income as Barings determines is consistent with capital preservation, with a secondary objective of capital appreciation.
  • The Fund expects to maintain a weighted average portfolio duration, including the effects of leverage, of 3 years or less.

Barings BDC, Inc. Prices Public Offering of $300 Million of 7.000% Notes due 2029

Retrieved on: 
Wednesday, February 7, 2024

Barings BDC, Inc. (NYSE: BBDC) (“Barings BDC”) announced today that it has priced an underwritten public offering of $300 million in aggregate principal amount of 7.000% notes due 2029 (the “Notes”).

Key Points: 
  • Barings BDC, Inc. (NYSE: BBDC) (“Barings BDC”) announced today that it has priced an underwritten public offering of $300 million in aggregate principal amount of 7.000% notes due 2029 (the “Notes”).
  • The offering is expected to close on February 12, 2024, subject to the satisfaction of customary closing conditions.
  • BofA Securities, Inc., Citigroup Global Markets Inc., R. Seelaus & Co., LLC and Roberts & Ryan, Inc. are acting as co-managers for this offering.
  • Investors should carefully consider, among other things, Barings BDC’s investment objective and strategies and the risks related to Barings BDC and the offering before investing.

Barings BDC, Inc. Reports Preliminary Fourth Quarter 2023 Results

Retrieved on: 
Thursday, January 25, 2024

As of December 31, 2023, the fair value of the Company's total investment portfolio was estimated to be approximately $2,488.7 million, down from $2,521.6 million as of September 30, 2023.

Key Points: 
  • As of December 31, 2023, the fair value of the Company's total investment portfolio was estimated to be approximately $2,488.7 million, down from $2,521.6 million as of September 30, 2023.
  • As previously announced, Barings BDC will report its financial results for the fourth quarter and full year ended December 31, 2023 on Thursday, February 22, 2024, after the market closes.
  • Barings BDC has scheduled a conference call to discuss fourth quarter and full year 2023 financial and operating results for Friday, February 23, 2024, at 9:00 a.m.
  • Access the website 15 minutes prior to the start of the call to download and install any necessary audio software.