La Trobe Financial has launched a new private credit fund listed on the Australian Securities Exchange (ASX).
The La Trobe Private Credit Fund (ASX: LF1) is aiming to raise between AUSD$100m (approximately £48m) and $300m through its IPO, with units priced at $2.
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The fund will target monthly distributions benchmarked to the RBA Official Cash Rate, plus 3.25 per cent per year, net of fees and other costs.
It will be managed to comprise a “balanced and flexible exposure to Australian real estate private credit through its 12-month term account, and US mid-market corporate private credit through its US Private Credit Fund”, the firm said in a statement.
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“The La Trobe Private Credit Fund brings together our two flagship, best-in-class strategies into the one vehicle for investors,” said Chris Paton, chief investment officer at La Trobe Financial.
“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.”
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