Barings Private Credit LLC

CIK 0001859919Barings

Barings Private Credit LLC is a non-traded business development company advised by Barings. With $5.1 billion in total assets, it is a mid-sized fund in the coverage universe. The portfolio is concentrated in direct lending, with 95% in first-lien senior secured loans and 97% floating-rate, at a weighted-average spread of 515 bps over the base rate. Its largest sector exposure is Industrials (12% of holdings).

NAV/Share

$20.37

AUM

$5.1B

Positions

826

Strategy

Private Credit

Wtd. Avg. Coupon

8.6%

Wtd. Avg. Spread

5 bps

Wtd. Avg. Maturity

4.2 yrs

88% coverage

Top 10 Concentration

15.9%

Instrument type

Share of portfolio fair value

First Lien

83%

of fair value

First Lien Senior Loans83.3%

Second Lien Loans2.8%

Unsecured Loans1.4%

Structured Credit1.4%

Equity9.4%

Fund Vehicles0.8%

Cash & Equivalents0.2%

Other0.8%

Industry exposure

Share of holdings fair value

Top 5

90%

of holdings

Industrials12.0%

Financials11.3%

Information Technology4.8%

Health Care3.9%

Consumer Discretionary2.9%

Communication Services2.0%

Consumer Staples1.7%

Materials1.3%

Other0.9%

Energy0.8%

Utilities0.1%

Unknown58.4%

Unknown sector positions lack GICS classification in the source filing or could not be reconciled.

Maturity profile

Share of debt fair value by years to maturity.

Risk & Credit Indicators

PIK in Terms

7.5%