Principal Financial, Barings partner on $1B portfolio finance initiative

Principal Financial (PFG) Group announced a strategic partnership with Barings to expand the general account portfolio at Principal through an allocation of up to $1B in bespoke private investment grade portfolio finance investments. The investments will be in the form of a separately managed account and a co-investment structure. The co-investment structure will be managed by Principal Asset Management, the dedicated in-house asset manager for Principal, who manages approximately 95% of the Principal general account portfolio.