03:56 PM EDT, 03/22/2024 (MT Newswires) -- (Updates with Ares and KKR declining to comment in fifth paragraph.)

Ares Management ( ARES ) , KKR (KKR) and other private credit firms are keen to take advantage of troubles at Barings after more than 20 of its senior executives moved to Corinthia Global Management earlier this month, Bloomberg reported Friday.

The firms are looking to refinance Baring out of positions and are contacting buyout firms to take Barings out of the capital structure of their portfolio companies, the report said, citing people familiar with the matter.

The sudden exit of employees at Barings has prompted the investment management firm to reportedly pause some investments.

Barings told Bloomberg it would continue to support its sponsor clients with their current and future financing needs. Ares Management ( ARES ) and KKR declined to comment.

Ares Management ( ARES ) and KKR declined to comment to MT Newswires.

Barings did not immediately respond to a request for comment by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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