Alternative investment manager Barings has appointed Ankit Aggarwal as head of global collateral loan obligation (CLO) issuance and capital markets, a newly created role.

Aggarwal joins from Bank of America, where he led the firm’s US CLO banking and structuring team and CLO equity distribution efforts. He previously also served as vice president at Deutsche Bank, where he focused on CLO origination and structuring.

Read more: Barings lands Standard Chartered CLO mandate

Based in New York, Aggarwal will report to Adrienne Butler, Barings’ head of global CLOs.

“As institutional and insurance demand for CLO solutions continues to grow, Ankit’s leadership will strengthen our capital formation and new issuance capabilities while further enhancing the value we deliver to clients,” commented Butler.

Read more: Barings and Pacer launch CLO and secured credit ETFs

Aggarwal’s appointment aims to amplify Barings’ $55bn (£40.8bn) platform across broadly syndicated loans, private credit, and infrastructure debt. He will work closely with investment, distribution and structured credit teams to enhance CLO-related investment capabilities, drive new CLO formation, and grow strategic capital partnerships.

“I am excited to join the team to deepen relationships with institutional investors, expand the firm’s capital markets capabilities, and help drive the next phase of growth across the platform,” said Aggarwal.

Read more: Barings launches first infrastructure CLO