Barings Capital Investment Corporation Surveillance Report
Company Profile
Barings Capital Investment Corporation (“the company” or “BCIC”), headquartered in Charlotte, NC, was formed in February 2020 as a Maryland limited liability company and converted to a Maryland corporation on April 28, 2020. BCIC has elected to be regulated as a BDC under the Investment Company Act of 1940 and has elected to be regulated as a regulated investment company (“RIC”) for tax purposes.
BCIC's external adviser, Barings LLC (“the Adviser” or “Barings”), is affiliated with Massachusetts Mutual Life Insurance Company (“MassMutual”), which was established in 1851 and had over $1 trillion in life insurance in force as of 4Q24.
MassMutual owns ~ 21.9% of BCIC. Other key investors are South Carolina Retirement System, Alberta Pension, NY Nurses, Cliffwater LLC, VMI, and Wells Fargo.
Barings continues to evaluate liquidity options, including a transaction with an affiliate entity or liquidate BCIC after the 7-year investment period …
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