CHARLOTTE, N.C., July 16, 2018 (GLOBE NEWSWIRE) -- Barings, one of the world’s leading financial services firms, announced today that Jonathan Bock, a well-known business development company (BDC) thought leader, is joining the firm as a managing director in its Global Private Finance Platform. Bock will be based in Charlotte and report to Eric Lloyd, Head of Global Private Finance for Barings.
As previously announced, Barings has entered into a stock purchase and transaction agreement with Triangle Capital Corporation (TCAP), a publicly traded BDC on the New York Stock Exchange, pursuant to which Barings will become the external investment adviser to TCAP (the Externalization Transaction). Assuming that stockholder approval is obtained at TCAP’s special stockholder meeting scheduled for July 24, 2018 and the Externalization Transaction is consummated, TCAP will be renamed “Barings BDC, Inc.” In connection therewith, Barings also intends for Bock to serve as Chief Financial Officer of Barings BDC, Inc.
“Jonathan’s commitment to BDC shareholders and institutional LPs is widely recognized and has made him one of the most respected voices in the industry,” said Lloyd, who will serve as Chief Executive Officer of Barings BDC, Inc. following the expected close of the Externalization Transaction. “His years of leading research, insight and industry relationships will complement our global private finance platform.”
Bock is recognized for his investment research, which is frequently cited by The Wall Street Journal, Institutional Investor, Private Debt Investor, Barron’s and other prominent financial publications. He was the chief author of BDC Scorecard, a leading quarterly research publication, and he was the first sell-side BDC analyst to be published in the Journal of Alternative Investments on issues covering BDC performance and valuation.
“The breadth and depth of Barings’ private credit team, combined with the strength, diversity and scale of resources available across the entire firm, creates a very exciting opportunity for BDC shareholders,” Bock said. “Investor alignment is a matter of great importance to all investors. Barings’ proposed low fee structure, share repurchase/tender, and large initial investment at NAV shows the firm is committed to these interests and put it in a very narrow class of investor-friendly BDC managers.”
Prior to joining Barings, Bock was a managing director and Senior Equity Analyst at Wells Fargo Securities, where he specialized in BDCs. Before joining Wells Fargo, he covered the specialty finance space at Stifel, Nicolaus & Company and A.G. Edwards Inc. Prior to entering sell-side research in 2006, Bock was an equity portfolio manager/analyst at Busey Wealth Management in Champaign, Illinois. Bock earned his bachelor’s degree in finance from the University of Illinois and is a CFA charterholder.
About Barings
Barings is a $305+ billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients. We build lasting partnerships that leverage our distinctive expertise across traditional and alternative asset classes to deliver innovative solutions and exceptional service. Part of MassMutual, Barings maintains a strong global presence with over 1,800 professionals and offices in 16 countries. Learn more at www.barings.com.
