# EDGAR Filing Document

**Accession Number:** 0000831655
**File Stem:** 0001225208-23-002860
**Filing Date:** 2023-2
**Character Count:** 7084
**Document Hash:** c6ceaa16f8192d9d22edf9961b5d5333
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001225208-23-002860.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001225208-23-002860

**CONFORMED SUBMISSION TYPE**: 3

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230227

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** SPENGLER ROBERT
- **CENTRAL INDEX KEY:** 0001965507

**FILING VALUES:**
- **FORM TYPE:** 3
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 811-05531
- **FILM NUMBER:** 23674185

**MAIL ADDRESS:**
- **STREET 1:** BARINGS LLC
- **STREET 2:** 300 S. TRYON STREET, SUITE 2500
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28202
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BARINGS PARTICIPATION INVESTORS
- **CENTRAL INDEX KEY:** 0000831655
- **STANDARD INDUSTRIAL CLASSIFICATION:** UNKNOWN SIC - 0000 [0000]
- **IRS NUMBER:** 043025730
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** C/O BARINGS LLC
- **STREET 2:** 300 SOUTH TRYON STREET, SUITE 2500
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28202
- **BUSINESS PHONE:** 704-805-7200

**MAIL ADDRESS:**
- **STREET 1:** C/O BARINGS LLC
- **STREET 2:** 300 SOUTH TRYON STREET, SUITE 2500
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BABSON CAPITAL PARTICIPATION INVESTORS
- **DATE OF NAME CHANGE:** 20111230

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MASSMUTUAL PARTICIPATION INVESTORS
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MASSMUTUAL CORPORATE INVESTORS II
- **DATE OF NAME CHANGE:** 19880417

## Ex-24

```

Securities and Exchange Commission (SEC) Update Passphrase Confirmation, Forms
3,
Form 4 and Form 5 and Application for EDGAR Access (Form ID) Confirmation of
Authority to
Sign
With respect to any closed end investment company or business development
company for which
Barings, LLC or any of its subsidiaries, now or hereafter serves as investment
adviser, and for which
the undersigned is deemed to be an Insider under Section 16(a) of the Securities
  Exchange Act of
1934, the undersigned, hereby appoints and designates Bridget Orlando, Jessica
Restivo, Latavea
Cross, Melissa Cliver, Melissa LaGrant, and Christopher DeFrancis each as a true
  and lawful
attorney-in-fact with full power to:
(1)	Prepare, and execute in the undersigned's name and on the undersigned's
behalf, the Form ID
application, Update Passphrase Confirmation, or any other documents necessary or
  appropriate
to obtain EDGAR access codes enabling the undersigned to make electronic filings
  with the SEC
of reports required by Section 16(a) of the Securities Exchange Act of 1934 or
any rule or
regulation of the SEC.

(2)	Sign on the undersigned behalf and file with the Securities and Exchange
Commission and New
York Stock Exchange, any applicable Form 3 - Initial Statement of Beneficial
Ownership of
Securities, Form 4 - Statement of Changes in Beneficial Ownership or Form 5 -
Annual
Statement of Beneficial Ownership of Securities with respect to shares purchased
  or sold by the
undersigned or any other change of beneficial ownership required to be reported
by the
undersigned.

This Power of Attorney shall remain in full force and effect until the
undersigned is no longer required
to file the Form ID Application, Update Passphrase Confirmation, Forms 3, 4 and
5 with respect to
the undersigned's holdings of and transactions in any securities issued by a
closed end investment
company or business development company for which Barings LLC or subsidiary
serves as
investment adviser, unless revoked by the undersigned in writing and delivered
to the attorneys-in-
fact.  Notwithstanding the foregoing, if any such attorney-in-fact hereafter
ceases to be an employee
of Barings LLC, this Power of Attorney shall be automatically revoked solely as
to such individual,
immediately upon such cessation, without any further action on the part of the
undersigned.

Signature:

Name: 		ROBERT SPENGLER
Title: 	CHIEF COMPLIANCE OFFICER,
BARINGS PARTICIPATION INVESTORS
Date: 		___________________________, 2023

```

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 3

### INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>SPENGLER ROBERT<br><sub>(Last) (First) (Middle)</sub><br>BARINGS LLC<br>300 S. TRYON STREET, SUITE 2500<br><sub>(Street)</sub><br>CHARLOTTE, NC 28202<br><sub>(City) (State) (Zip)</sub> | **3. Issuer Name and Ticker or Trading Symbol**<br>BARINGS PARTICIPATION INVESTORS [ MPV ] | **5. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  |
| **2. Date of Event Requiring Statement (Month/Day/Year)**<br>2023-02-27 | **4. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director   [ ] 10% Owner<br>[ ] Officer (give title below)   [X] Other (specify below)<br>_ _ | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities Beneficially Owned

---

|  |  |  |  |
| --- | --- | --- | --- |
| 1. Title of Security | 2. Amount of Securities Beneficially Owned | 3. Ownership Form | 4. Nature of Indirect Beneficial Ownership |

---

## Table II - Derivative Securities Beneficially Owned

---

|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Underlying Securities | 3. Title and Amount of Underlying Securities | 4. Conversion or Exercise Price | 5. Ownership Form | 6. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 4. Conversion or Exercise Price | 5. Ownership Form | 6. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |

---

**Remarks:**
spenglerpipoa.txt

**Signature:** Latavea Cross as attorney-in-fact  
**Date:** 2023-02-27

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**