La Trobe Financial launches private credit fund
La Trobe Financial has announced the launch of an ASX-listed private credit fund, offering a new funding avenue for the firm.
The La Trobe Private Credit Fund (ASX: LF1) aims to raise between $100 million and $300 million via an IPO priced at $2.00 per unit, with the fund targeting monthly distributions benchmarked to the RBA Official Cash Rate plus 3.25 per cent per annum, net of fees.
In an ASX statement, La Trobe said the fund was brought to the market with a syndicate, which includes lead arranger CommSec, and joint lead managers Taylor Collison, Ord Minnett, Morgan Stanley, and Shaw & Partners.
“Today marks another very significant milestone for La Trobe Financial and our 110,000 investors. For the first time, investors will be able to invest with us on the ASX,” said CEO Chris Andrews.
“We are listening to our investors and will remain committed to helping Australians by continuing to provide new and thoughtful ways for them to grow their wealth. Today is another step on that journey.”
Currently in the cornerstone period, the strategy has garnered strong support, offering a new funding avenue for La Trobe Financial and will be managed to provide diversified exposure across Australian real estate private credit, via its 12 Month Term Account, and US mid-market corporate private credit through its US Private Credit Fund.
La Trobe Financial CIO, Chris Paton, said: “The La Trobe Private Credit Fund brings together our two flagship, best-in-class strategies into the one vehicle for investors. It provides a conservative and diversified exposure to private credit, with the convenience of investing via the ASX.
“We are delighted that we can provide our investors with another high-quality product, which we expect will deliver a strong monthly income stream,” Paton stated.
There have been several similar ASX-listed private credit fund launches in recent months, reflecting a growing trend among investors seeking diversified, income-generating alternatives amid tightening credit conditions.
Recent examples include Pengana’s Global Private Credit Trust (ASX: PCX), Metrics Master Income Trust (ASX: MXT), and MA Financial’s listed private credit trust – all tapping into rising investor demand for consistent yields and access to the expanding private credit market.
Recommended for you
Record flows into iShares ETFs helped BlackRock’s assets under management reach US$13.5 trillion in the third quarter, but it reported outflows from the APAC region.
Regal Partners has passed $20 billion in funds under management, helped by $723 million in net inflows during the last three months.
Global investment manager Fidante has formed a strategic partnership with a London-based asset manager to secure exclusive distribution rights across the APAC region.
Blackwattle Investment Partners has hired a management trio from First Sentier Investors – who departed amid the closure of four investment teams last year – to run its first equity income offering.
