Barings BDC
Institutional investorCharlotte · 10 people tracked
Also known as BARING ASSET MANAGEMENT LIMITED · BARING INTERNATIONAL FUND MANAGERS (IRELAND) LIMITED · BARING INTERNATIONAL INVESTMENT LTD · Barings · BARINGS (U.K.) LIMITED · BARINGS AUSTRALIA PTY LTD · Barings Llc
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Investment thesis
Barings is a global diversified asset management organization with a long history in fixed income, private credit, real estate, and alternatives. Through Barings BDC, a publicly listed business development company created from the 2018 acquisition of Triangle Capital Corporation, the firm makes middle market investments. Subsequent mergers with MVC Capital and Sierra Income Corporation added scale to the Global Private Finance platform, positioning Barings BDC as a market-leading BDC.
Source: firm website, verified Sep 29, 2026.
Team · 10 people
from the firm's website & public directoriesWhat they invest in
from 10 of 10 portfolio companiesEnterprise Software ×4SaaS ×4Fintech ×3Hardware ×2Healthtech ×2InsurTech ×2Logistics & Supply Chain ×2Advanced Manufacturing ×1
HQs:United States×3Australia×1Germany×1United Kingdom×1
Investments · 10 tracked
founders shown can be your intro pathBy year:2026 · 22023 · 12022 · 12021 · 15 dated
Accelerant is a data-driven marketplace that connects specialty insurance underwriters with capital providers through proprietary AI and analytics.
AI & Machine LearningData & InfrastructureFintechInsurTechSaaS
Jeff Radke(Founder)inChristopher Lee-Smith(Global Head of Distribution, Director and Co-Founder)in
Co-investorsAltamont Capital PartnersMS&AD VenturesEldridge
Bridger Aerospace provides aerial firefighting and special mission services aimed at protecting lives, property, infrastructure, and the environment from wildfires.
Climate TechDefense TechHardware
Sam Davis(President and Chief Executive Officer)inAdolphus “Bill” Andrews(Chief Operating Officer)inAnne Hayes(Chief Financial Officer)
Co-investorsVillage GlobalBain CapitalBlackstone
Martello Re is a reinsurance firm that supports life and annuity insurers by providing access to capital and investment capabilities to help them grow profitably and meet policyholder obligations.
FintechInsurTechCharlotte, US
Matthew Kabaker(Director)Taylor Bodman(Director)Eric Hoffman(Director)Jeffrey Meskin(Director)Dennis Ho(Chief Executive Officer)Ellen Conlin(Director)
Co-investorsCenterbridge Partners, L.P.Real Tech Capital
Armstrong Transport Group is a logistics and freight brokerage company that manages transportation operations and relationships between carriers, shippers, and freight providers.
B2B MarketplacesLogistics & Supply ChainCharlotte, US
Cameron Ramsdell(Chief Executive Officer)inDavid Morris(CFO and EVP of Agent Recruiting)inVamsi Tirnati(Chief Technology Officer)inDerrick Howk(Chief Operating Officer)Emily Chiarizia(General Counsel)in
Co-investorsCarousel
Biocomposites develops and manufactures calcium-based and medical-grade polymer composite devices used in orthopaedic surgery, including products designed for use in the presence of infection.
BiotechHealthtechMedical DevicesNew MaterialsKeele, GB
Co-investorsAdams Street PartnersTA Associates
FLX Networks operates a membership platform connecting asset management and wealth management firms, offering networking, investment insights, analytics, distribution services, event management, and marketing/PR tools through a single agreement.
Enterprise SoftwareFintechSaaS
Brian Moran(Founder & CEO)inKevin Barresi(Chief Technology Officer)in
Co-investorsDaybreak Partners
Northstar provides managed waste and recycling programs for furniture and home product manufacturers, handling diverse material streams and vendor coordination to improve landfill diversion and cost control.
Advanced ManufacturingCircular EconomyCleantechEnterprise SoftwareImpact & Social GoodLogistics & Supply ChainLittle Falls, US
Seth Goodman(Chief Executive Officer)inNoah Goodman(President)in
Co-investorsRidgemont Equity
operasan is a German company that operates nephrology and dialysis centers, providing outpatient treatment for patients with kidney disease across 30 locations.
Digital HealthHealthtech
Co-investorsDBAGDeutsche Beteiligungs AG
Permaconn provides fire alarm management and signalling systems designed for remote and hard-to-reach locations in Australia, offering self-managed solutions with dual connectivity redundancy to ensure system reliability.
Cloud ComputingEnterprise SoftwareHardwareIoTSaaSAustralia, AU
Co-investorsFive V Capital
Rightsline provides a cloud platform for managing rights and royalties, serving businesses in industries such as publishing and media/entertainment studios.
Enterprise SoftwareMedia & EntertainmentSaaS
Co-investorsKlass CapitalHg Capital
Exits · 2
2 IPOsAccelerantNYSE: ARXBridger AerospaceNASDAQ: BAER
Portfolio news
latest coverage across their companies
Accelerant · fintech.global · Jul 14, 2026
Armstrong Transport Group · finance.yahoo.com · Jun 25, 2026
Rightsline · finsmes.com · May 28, 2026
Fund performance · per public LP disclosures · 8
as of Jun 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Barings Emerging Generation Fund IILPs: Los Angeles City Employees' Retirement System | 2022 | — | 11.7% | 1.15x | 0.03x |
| Barings CMS FundLPs: South Carolina Retirement System Investment Commission | 2021 | — | 2.0% | — | — |
| Barings Private Equity Asia VIIILPs: Northern LGPS | 2021 | — | — | 1.11x | — |
| Barings Transportation Fund LPLPs: North Carolina Retirement Systems | 2021 | — | 8.6% | 1.68x | 0.37x |
| Barings Capital Investment CorporationLPs: South Carolina Retirement System Investment Commission | 2020 | — | 11.0% | — | — |
| Barings Emerging Generation FundLPs: Los Angeles City Employees' Retirement System | 2020 | — | 16.4% | 1.52x | 0.18x |
| Barings Asia Real Estate IILPs: Maine Public Employees Retirement System | 2018 | — | -5.4% | 0.86x | 0.13x |
| Barings Core Property Fund LPLPs: Connecticut Retirement Plans and Trust Funds | 2008 | — | 4.8% | 1.52x | 1.06x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Public market activity · per SEC filings
what is this? ⓘDisclosed stake · filed Apr 2022
Disclosed stake · filed Feb 2021
Disclosed stake · filed Apr 2020
Disclosed stake · filed Feb 2020
Disclosed stake · filed Feb 2020
Disclosed stake · filed Feb 2020
Disclosed stake · filed Sep 2019
Disclosed stake · filed May 2019
Disclosed stake · filed Feb 2019
Disclosed stake · filed Feb 2019
Disclosed stake · filed Feb 2019
Disclosed stake · filed Feb 2019
499 insider ownership filings (Forms 3/4/5)
at Barings BDC, Inc. (BBDC)
From the firm's own SEC EDGAR filings — stakes and insider roles in public companies, typically portfolio companies after an IPO. Not a portfolio list published by the firm.
Frequently asked questions
- How many investments has Barings BDC made?
- Barings BDC has 10 tracked investments, 2 of which have exited, including 2 dated in the last 24 months.
- Where is Barings BDC located?
- Barings BDC is headquartered in Charlotte, US.
- Does Barings BDC lead rounds?
- Barings BDC typically participates in rounds rather than leading them.
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