Cornerstone Real Estate Advisers has completed its re-branding effort to consolidate with other Massachusetts Mutual Life Insurance Company subsidiaries, the parent company said Monday.
Cornerstone is now linked with Babson Capital Management, Wood Creek Capital Management and Baring Asset Management, all under the Barings brand, in a change that was announced in March, PERE previously reported. Barings managed $275 billion in assets as of June 30, according to the announcement.
Tom Finke, whose former title was chief executive of Babson, is now Barings’ CEO and is leading the firm out of Charlotte, North Carolina. Scott Brown, whose former title was CEO of Cornerstone, will continue to lead Baring’s real estate division.
“We are extremely pleased to reach this important milestone, bringing together our world-class, institutional asset management affiliates into a unified global asset manager and broadening our offerings and commitment to clients around the world,” said Roger Crandall, MassMutual’s chairman, in Monday’s statement. “Importantly, the launch of the ‘new’ Barings builds on the distinctive legacies of these four firms, represents an important strategic step forward that further differentiates us in the marketplace and positions our asset management operations to continue to succeed and lead in the years ahead.”