Babson Capital Management LLC (Babson Capital), an investment management firm based in Springfield and Boston, Mass., and Charlotte, N.C., today announced it is donating $50,000 to assist relief efforts for the tornadoes that struck Springfield and other parts of Western Massachusetts on June 1. The company donation, along with funds contributed by eligible associates through the firm's Matching Gift program, will support the American Red Cross Pioneer Valley Chapter designated for the Western Mass. Tornado Relief Fund.
Babson Capital's 1500 Main Street headquarters are only a few blocks north of areas of heavy damage within the city. The 1500 Main Street building did not sustain any damage and no Babson Capital employees were injured during the storms, but some did suffer severe damage to their homes and personal property.
The company has also taken steps to assist employees, including offering counseling through its employee assistance program and housing assistance for those displaced by the storm.
"Our thoughts and sympathies are with those who are dealing with the impact of this devastating event," said Thomas M. Finke, Babson Capital Chairman and CEO. "We especially wish the best for those neighboring homes and businesses in the downtown area who unfortunately were in the path of the storm. We know that our firm and the entire Western Massachusetts region are ready to help."
About Babson Capital Management
Babson Capital Management LLC and its subsidiaries serve institutional investors around the globe and have $134.5 billion in assets under management as of March 31, 2011. Through proprietary research and analysis and a focus on investment fundamentals, we develop products and strategies that leverage our broad array of expertise in fixed income, equities, alternative, structured products, debt financing for corporations and debt and equity financing for commercial real estate. Based in Boston and Springfield, Mass., and Charlotte, N.C., with offices in New York City and Los Angeles, the firm's subsidiaries include Babson Capital Europe Limited in London, Babson Capital Australia Pty Ltd in Sydney, and Cornerstone Real Estate Advisers LLC in Hartford, Conn. Babson Capital is a member of the MassMutual Financial Group and is on the web at www.BabsonCapital.com.
Contacts:
Babson Capital
Marty McDonough, 413-226-1187
413-214-2473
mmcdonough@babsoncapital.com
or
Luquire
George Andrews
David Coburn, 704-552-6565
704-408-4276
coburn@lgapr.com