Babson Capital Management LLC has signed an agreement with UNC Charlotte to sponsor the University’s highly-regarded Economic Forecast for North Carolina.
Under the three-year, renewable partnership, the forecast will be renamed the Babson Capital/UNC Charlotte Economic Forecast. In addition, Forecast Director John Connaughton will hold the title Babson Capital Professor of Financial Economics in the Belk College of Business.
“We’re pleased to support UNC Charlotte and the Belk College of Business through our sponsorship of the Economic Forecast,” said Babson Capital Chairman & CEO Thomas Finke. “The University and the College provide vital intellectual capital to the Charlotte region and the state, and John Connaughton’s reports provide important information for business and community leaders as we work together to grow and transform our economy.”
The UNC Charlotte Economic Forecast is published quarterly and presented by Connaughton at a community luncheon and press conference. It provides both a review of North Carolina’s recent economic performance and an estimate of the state’s future growth, focusing on industrial sectors. As a result of the Babson Capital sponsorship, Connaughton is exploring enhancements to the Forecast, either by expanding beyond North Carolina or by providing targeted information on specific regions in the state. The Belk College is also considering hosting Forecast events outside Charlotte, to engage business and civic leaders statewide. In addition, the partners are exploring ways for Connaughton and other Belk College faculty to collaborate with Babson Capital and leverage the firm’s significant breadth and depth of investment expertise and global presence.
Connaughton, who holds a Ph.D. in economics from Northeastern University, joined the UNC Charlotte faculty in 1978 and began producing the economic forecast in 1981. He has established a reputation as a top regional economist and is frequently cited by media on regional and state economic issues. In addition to directing the forecast, Connaughton has conducted numerous economic impact studies for businesses, government authorities and civic, sports and cultural institutions.
“Babson Capital’s investment in the Economic Forecast is a credit to John Connaughton and the respect and regard his forecasts have garnered in North Carolina and beyond,” said Belk College Dean Joe Mazzola. “We are most grateful for Babson Capital’s support, which not only allows the Belk College to continue to distribute the UNC Charlotte Economic Forecast as a public service, but to expand its impact as well.”
About Babson Capital Management LLC
Babson Capital Management LLC and its subsidiaries serve institutional investors around the globe and have $132.5 billion in assets under management as of September 30, 2010. Through proprietary research and analysis and a focus on investment fundamentals, Babson Capital develops 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.