Barings surpasses $500m target with innovation and growth real estate fund

Barings has closed its inaugural Barings Innovation and Growth Real Estate Fund (BIG), along with associated vehicles, at $680 million. The fund surpassed its target of $500 million.

Public and corporate pension plans, insurance companies and endowments across the United States and Europe committed to the fund.

BIG’s strategy seeks to capitalize on fundamental demand drivers in the life sciences and STEM office space in key markets that attract and retain highly educated, innovative workforces.

“At Barings, we believe there is strong relative value for the highest quality office assets that attract high-caliber life sciences and technology tenants, who continue to drive advancements in healthcare and global economic growth,” said Joe Gorin, head of U.S. real estate equity acquisitions and portfolio management at Barings. “The leasing performance of this specialized subset of office has substantially outperformed the overall office market since the beginn