Barings Raises $680M for Innovation and Growth Real Estate Fund

Barings closed its debut Barings Innovation and Growth Real Estate Fund, along with associated vehicles, with $680 million in commitments – far 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 US 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.

Joe Gorin and John Kolb will co-manage the fund with support from a team, which includes Maureen Joyce, head of U.S. real estate equity asset management.

“At Barings, we believe there is strong relative value for the highest quality office assets that attract high-caliber life science and technology tenants, who continue to drive advancements in healthcare and global economic growth,” noted Gorin, Barings’ head of US Real Estate Equity Acquisitions and Portfolio Management.

Barings has $36.2 billion in US real estate assets under management across equity and debt, managing more than 550 assets across six US offices. Globally, Barings has $46.5 billion in assets.