Barings Capital Investment Corporation Surveillance Report
Company Profile
Barings Capital Investment Corporation (“the company” or “BCIC”), headquartered in Charlotte, North Carolina, was formed in February 2020 as a Maryland limited liability company and converted to a Maryland corporation on April 28, 2020. The company has elected to be regulated as a BDC under the Investment Company Act of 1940 and a regulated investment company (“RIC”) for tax purposes.
The company’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 December 31, 2025.
MassMutual owns approximately 22.8% of BCIC as of February 19, 2026.
As the company is non-traded, BCIC will either liquidate by July 2027 in accordance with its operating agreement or merge with another Barings-affiliated BDC. Management continues to evaluate various options.
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