In September last year real estate veteran Paul Weightman started hiring for a new fund manager designed, in the 62-year-old’s own words, to “redefine the private credit landscape”. For months the goal looked like a tall order: early this year the company’s personnel listed on its website only included Weightman and another executive. That all changed on March 8 when more than 20 senior executives at $381bn asset manager Barings resigned en masse in what has been described as “one of the largest corporate raids” in asset management history.
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