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BARINGS PRIVATE CREDIT CORPORATION ETN STRUCTURE

Share Class:BROKERAGE DISTRIBUTING (A DIS)

BARINGS PRIVATE CREDIT CORPORATION (BPCC) - EXCHANGE TRADED NOTE

(ETN) PROGRAM

Barings Private Credit Corportation (BPCC) focuses on genererating high current income and total return through an extensively diversified portfolio of directly originated, senior first lien floating rate loans to middle market (mid sized) privately held companies primarily based in North America. The fund offers investors access to a proprietry portfolio of investments that has historically been less correlated and less volatile than traditional public market fixed income and equity. The fund's investments originated are underwritten by one of the largest and most experienced privated credit managers in the world (Barings) comprised of a team of over 80 individuals around the world. The Fund's investment manager Barings, is a private company wholly owned by MassMutual, one of the largest, highest rated, and oldest private insurance companies in the world.

The Barings Private Credit Corporation Notes (the "Notes") are a type of financial instrument that can be bought and sold on an exchange. They are designed to provide investors with a diversified portfolio of investments that are mostly floating rate, first lien, senior secured investments. These investments are collateralized through a U.S. semi-liquid perpetual business development company (BDC), which is the Barings Private Credit Corporation Fund (the "Fund"). The Fund invests in a portfolio of first lien, senior secured investments, which are well diversified by geography, industry, and borrower.

The Notes are 100% collateralized by voting shares of the Barings Private Credit Corporation (BPCC) Master Fund domiciled in the United States and regulated by the US Securities & Exchange Commission (SEC). The Notes act as a one-to-one passthrough for non-US investors to access the Master Fund strategy in streamlined manner. The Notes are traded and settled via Euroclear/Clearstream or Pershing with a monthly NAV and the ability to accumulate or receive monthly income distributions.

PM Alpha’s ETN framework offers a fully outsourced institutional quality ETN structure arranged and managed on behalf of Barings BPPC master with the most suited service providers efficiently assembled at cost for our clients

BPCC FUND SIZE

$2+ Billion AUM Master Fund
11.6% Net Yield

WHY BARINGS PRIVATE CREDIT CORPORATION (BPCC) ETN?

  • Simplified monthly access to the BPCC Master Fund with no subscription documents, cumbersome onboarding, or capital commitments.

  • Multiple share tranches providing for both monthly income or total return (Income accumulation).

  • Quarterly liquidity windows of up to 5% of the Master Fund's total equity (per quarter) starting after year 1. (Subject to terms and conditions).

MASTER FUND 

CURRENT YIELD

11.6%*

MASTER FUND GEOGRAPHY

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75%-100%
0%-25%
North America
Europe & APAC
* Fully hedged to USD; Subject to change

MASTER FUND ISSUER DIVERSIFICATION

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280+

​Senior First Lien Floating Rate Loans and other Private Cross Platform investments

BARINGS PRIVATE FINANCE TEAM HIGHLIGHTS - AN INSTITUTIONAL LEADER IN PRIVATE CREDIT 

LTM HIGHLIGHTS

$44+ Bn
In commitments across the Globe
91
New Platforms
86
Add-on transactions
ESG - margin ratchet
Closed first of its kind
Closed on
#2
most active lender to North American PE-owned companies
#2
most active lender to European PE-owned companies
$12.1bn
deployed capital
55+
Additional ESG Margin Ratchet Deals closed in both Europe & North A
Executed
Reached
Unitranche deal in the European Middle Market in 2020

INVESTED IN...

14

countries

7

currencies

with..

110+

unique private equity sponsors

As of March 31st 2023​

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