BARING UNIT SETS UP FUND FOR MANAGEMENT BUY-OUTS Baring Capital Investors Ltd (BCI), a unit of the U.K. Merchant bank <Baring Brothers and Co Ltd>, said it has raised 61 mln European Currency Units (ECUs) which will be invested in management buy-outs and development capital opportunities in the U.K. And continental Europe. The funds were raised through BCI's first such fund - the Baring Euaring European Capital Trust - from investors in nine European countries. It expects to raise another 40 mln ECUs soon through a French fund and a fund for U.S. Investors. BCI was set up last year by Baring Brothers to advise buy-out and development capital investors. BCI said the new fund is structured as a Guernsey-based unit trust, which will be listed on the Luxembourg Stock Exchange. It will be advised by BCI and managed by a company owned jointly by Barings and the management of BCI. Individual investments are expected to range between one and 10 mln ECUs and are likely to be concentrated in the U.K., Germany and France. BCI said its aims are to invest in established companies, principally family companies with succession-issues and corporate spin-offs.