BREEVA II follows the success of BREEVA I, which has already realised a number of assets and returned more than 60% of its equity to investors and achieved a blended Gross IRR on realisations in excess of 45%.

Of the capital raised for BREEVA II, 50% came from existing investors, with the remainder from new clients, and was well diversified across North America Europe and Asia Pacific. The majority of the capital came from pension funds and insurance companies.

BREEVA II will continue the same investment strategy as BREEVA I, targeting value-add opportunities across Europe, with a focus on repositioning and build-to-core opportunities in the logistics, alternatives - living and office sectors.  Barings has already committed approximately 30% of the fund’s capital through eight transactions in the UK, Sweden, Germany and Italy and expects a number more to close in the coming weeks.

Paul Murphy, Head of Client Portfolio Management, European Real Estate, at Barings, said: “To have closed BREEVA II with such a high quality and well diversified capital base is a strong endorsement in the strength of our strategy, investment track record and relationships with our clients. There was over €1 billion of client demand for this fund and we look forward to efficiently deploying the capital raised in the months ahead.”

Valeria Falcone, Head of Value-Add Investing Europe at Barings, said: “Through our strong network of local offices we have been able to not only continue our comprehensive value-add strategy throughout the pandemic, but also identify and execute opportunities that have arisen as a result of it. This ongoing success, proven by the very strong returns delivered from BREEVA I, which has already returned 65% of the capital, has led to increased demand from investors and we have already identified a promising pipeline of further acquisitions following our initial commitments.”

Contacts:
Tali Robinson/Polly Warrack (SEC Newgate)
barings@secnewgate.co.uk

Barings Real Estate
Barings Real Estate (BRE) offers a broad range of global investment opportunities across the private debt and equity investment markets. BRE invests in all major property sectors and offers an expansive range of financing solutions to real estate borrowers. Follow us on LinkedIn at www.linkedin.com/showcase/barings-alternative-investments.

About Barings
Barings is a $391+ billion* global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its clients, communities and employees, and is committed to sustainable practices and responsible investment.