Dechert advises Barings on innovative CLO

Dechert has played a pivotal role in the financial sector by advising Barings, a prominent investment manager, on the launch of Europe’s first multicurrency private credit CLO, known as Barings Euro Middle Market CLO 2025-1 DAC. This innovative structure includes Euro and Sterling tranches, uniquely combining a multicurrency framework with a portfolio that exclusively targets private credit assets, which are directly originated by Barings’ European Private Credit Platform.

This recent achievement marks the second significant collaboration between Dechert and Barings, following their advisory role last November for the first-ever European Middle Market Private Credit CLO. Notably, the Dechert team, recognised for its expertise, has provided drafting counsel on every European Private Credit CLO to date and offered guidance to Ares Management on its inaugural European Direct Lending CLO earlier this year.

Dechert’s leading securitization, investment adviser, and fund lawyers advocate for issuers, placement agents, collateral managers, and equity investors in CLO transactions across both the United States and Europe. The cross-border Dechert team, instrumental in advising Barings, was led by global finance partners Aaron Scott and Christopher Duerden, alongside associates Rory O’Connor and Edmund Mayne. Supporting them, the tax team was directed by partners Daniel Hawthorne and Craig Cohen, with associate Nicolas Kokkinos playing a vital role.