Barings Private Credit Corporation (BPCC)

BPCC is a high-quality, highly diversified, floating rate income solution that offers portfolio diversification across issuer, industry, and geography.

Dividend Yield

11.5% annualized


75%–100% North America
0%–25% Europe & APAC

Issuer Diversification

361 names*

*Includes Eclipse and Rocade portfolios of underlying first lien loan exposure in total.


What is BPCC?

In this video, we provide a short overview of BPCC, a potential solution for investors searching for income, downside protection and diversification.

What is a BDC?

In this short video, we break down the basics of BDCs: What they are, why investors might consider them, and how to access the asset class.

Term Sheet

Fund Name Barings Private Credit Corporation (“BPCC”)
Target Size $2+ billion of commitments (~$4.5 billion total with leverage)
Dividend Current Distribution Rate = 11.5%1
Liquidity Monthly subscriptions and quarterly redemptions2
Target Asset Mix >80% 1st lien senior secured; <15% 2nd lien senior secured
Target Fund Leverage Target leverage: 0.90–1.25x to 1 (debt to equity)
Geography Global, 75–100% United States, 0–25% Europe and Asia Pacific
Industry Diversification Maximum 20% to borrowers in any single industry
Issuer Diversification Target 200+names; no more than 10% in any single portfolio investment
Origination/Upfront/OID 100% pass-through of upfront loan fees
Management Fee 75 bps of gross assets if TTM ROE is <8% 75 bps base/20 bps incentive (95 bps total) of gross assets if TTM ROE is between 8% and 9% 75 bps base/50 bps incentive (125 bps total) of gross assets if TTM ROE is >9%
Investor Eligibility Accredited Investors
Minimum Investment $50,000
Tax Reporting/ECI Form 1099-DIV. The perpetual BDC is not subject to asset seasoning for foreign investors. Barings Private Credit Corp is also not subject to U.S. withholding tax/income tax on its distribution.3

1. BPCC declared a monthly dividend of $0.20 per share for August, resulting in an annualized dividend yield of 11.6% based on the September 30th net asset value per share.
2. Subject to Board approval.
3. BPCC may be subject to withholding tax on certain non-US investments. See “Important Disclosure Information” in BPCC’s Form 10 at This document has been delivered at your request and is for discussion purposes only. All terms, and conditions contained hereinare subject to and will be superseded by the final documentation. This document is not an offer or solicitation to purchase interests in a strategy and no such orders will be accepted at this time. Such interests are only offered pursuant to the terms of the offering documents, which should be reviewed carefully prior to investing.

Why Private Credit?

High income potential compared with the current low-rate environment

Premium to large corporate market with relatively low risk profile, lower leverage and higher equity contributions

Global opportunity set provides opportunities to construct highly diversified portfolios across issuer, industry, currency and geography


Global team and dynamic portfolio management help uncover best relative value throughout portfolio construction

Majority floating-rate investments help mitigate impact from rising rates

Meet the Team