Investing globally to uncover the best opportunities.
Our global high yield investment capabilities include high yield bonds, senior secured loans, structured credit and special situations. Our team of specialists collaborates to deliver specific client solutions across individual or multiple asset classes.
Global High Yield Bonds
AUM: $11.7 billion (31 March 2020)
Our high yield bond strategies draw upon our extensive investment platform and experience to provide access to the U.S. and European high yield markets.
Special Situations Credit
AUM: $466 million* (31 March 2020)
*Committed Capital in excess of $400 million (June 30, 2015)
Our approach to special situations credit investing is flexible and returns-driven, and seeks compelling return opportunities across the developed corporate high yield markets.
Taking the Bite Out of High Yield’s Tail Risk
A new buyer has arrived on the scene of U.S. high yield markets, and it happens to be the biggest buyer of them all: the U.S. Federal Reserve.View
High Yield: Finding Value in a Landscape Rife with Risk
Concerns surrounding COVID-19, lower oil prices and a global recession have weighed heavily on markets—including global high yield bonds and leveraged loans. While value opportunities are emerging, the landscape is punctuated with risks that must be carefully navigated.View
Distressed Debt: Despite Challenges, Opportunities Persist
Recent market and economic volatility may be the trigger that distressed debt investors have been waiting for, but capitalizing on opportunities will require a different playbook than those of past cycles.View
Distressed Debt: Capturing Late-Cycle Value
Barings’ Stuart Mathieson and Bryan High discuss how recent macro events and credit market dynamics are impacting the outlook for distressed debt.View
Sentiment Shift Fuels Lower-Rated Rally
Uncovering relative value across high yield in 2020 may require looking in less obvious places.View
CLOs: Triple C's and Market Unease
Taryn Leonard and Melissa Ricco, Co-Heads of Barings’ Structured Credit Investment Team, discuss the recent loan market weakness, and how technical pressures are creating value opportunities in the CLO market.View
High Yield: A Time to be Nimble
In this Q&A, Martin Horne, Head of Global Public Fixed Income, discusses the state of high yield markets amid a late-cycle environment, and why it’s critical to be nimble and selective in order to capture points of relative value.View
High Yield: Poised to Capture Relative Value
Despite mounting uncertainty in the broader markets, high yield delivered broadly positive returns in Q3. As we continue to move through the late stages of a prolonged cycle, credit selection will be critical.View
High Yield: Rates, Recessions and Relative Value
While there is no shortage of risks to consider in today’s high yield markets—from ESG to the end of the credit cycle—Barings’ Martin Horne describes how taking a contrarian approach can help investors uncover pockets of value.View
Are High Yield Investors Being Compensated for Risks?
In the context of today’s fundamental backdrop and default outlook, spread levels suggest investors are being fairly compensated, relative to other points in the cycle, for the amount of risk they are taking.View
Distressed Debt: Seeking Opportunity in Choppy Waters
Stuart Mathieson, Head of Barings’ Global Special Situations group, and Bryan High, Co-Portfolio Manager of the strategy, discuss how the macro environment is impacting their outlook, and where they're seeing distressed debt opportunities today.View
U.S. Loans: Challenged Market or Veiled Opportunity?
With loan and bond yields currently comparable, we believe—in a somewhat contrarian view to the market—there is a good argument for investing in loans, particularly in the U.S., where the economy appears to be marginally stronger than in Europe.View
Distressed Debt: How This Cycle May Be Different
Barings’ Stuart Mathieson and Bryan High discuss the outlook and competitive landscape for distressed debt and consider the implications of the significant growth in private credit and European high yield since the last cycle.View
Fixed Income: Upending the Conventional Approach
Michael Freno, Head of Global Markets, shares his view on where value can still be found in fixed income, despite the uncertain current environment—and why investors may need to look beyond traditional indexes in high yield, investment grade and emerging markets debt.View
Fixed Income: Looking Beyond the Index for Late-Cycle Value
Head of Global Markets, Mike Freno, sheds light on how the Barings’ teams are finding value outside of traditional indexes across high yield, investment grade credit and emerging markets debt.View
High Yield Bonds & Loans: Where to Next?
High yield markets roared back in the first quarter. Can market fundamentals and technicals support continued strength? And how should investors factor in risks ranging from possible recession, to ratings downgrades, to liquidity concerns? Barings’ David Mihalick weighs in.View
Climbing High Yield’s Wall of Worry
In this Q&A, Barings’ Head of Global High Yield, Martin Horne, weighs in on some of the major risks facing the high yield markets today and discusses where his team is seeing opportunities.View