Global asset management firm Barings has backed the debt financing facility to support Warburg Pincus‘s acquisition of Asia-focused corporate services provider Acclime, according to an announcement.
Barings said it acted as an original underwriter for the acquisition financing and will continue to support Acclime under Warburg Pincus’ ownership. Financial terms were not disclosed.
The investment marks the first Asia-Pacific transaction between Barings and Warburg Pincus, building on an existing global relationship.
Acclime was founded in 2019 by Martin Crawford and Debby Davidson to help corporations navigate Asia’s complex markets, according to its website.
Headquartered in Hong Kong, it provides accounting, tax, payroll, corporate secretarial, fund administration, and advisory services across 18 Asia-Pacific markets.
Barings has been Acclime’s sole senior lender since August 2021, supporting the company’s expansion through a combination of organic growth and acquisitions.
During that period, Acclime completed more than 50 acquisitions, growing its footprint to 18 markets with more than 2,000 employees serving over 17,000 clients.
“This transaction underscores our continued conviction in Acclime as a leading consolidator in a structurally growing and diverse market,” Shane Forster, head of Asia Pacific investment management for global direct lending at Barings, said in a statement.
Justin Hooley, Barings’ head of Asia-Pacific direct lending, said Acclime was positioned to benefit from further consolidation in the region’s fragmented corporate services sector.
In 2024, Barings provided debt facilities exceeding $150 million to Acclime to support its growth across 14 Asia-Pacific markets.
Barings, a subsidiary of US insurer MassMutual, managed about $502 billion in assets as of June 30, 2026. Its investments span private credit, real assets, capital solutions, and emerging markets.
A Reuters report in December said Warburg Pincus would invest in Acclime in a deal that valued the Hong Kong firm at between $950 million and $1 billion.
Warburg Pincus raised $3 billion in the final close of its latest financial services fund, surpassing a $2.5 billion target, in January.
The fund, Warburg Pincus Financial Sector III (WPFS III), launched in 2024, is the firm’s largest dedicated financial services fund to date.
