Barings took over Aqualung's debt from Montagu/Alize. The latter (private equity joint) put AL in a huge financial trouble while draining it of cash to the point of (just a guess...) no return. Lots of assets were sold, $$$ disappeared... I believe the only reason for Barings to take over was that the initial Montagu financing was provided by Barings.
From VC standpoint AL is done. They lost ridiculous amount of staff and R&D people. Unless Barings comes up with some fantastic and magical ideas soon - I would be very careful choosing AL products, especially new ones.