ASX-listed LF1 fund targets $300 million raise with blended credit strategy
Alternative asset manager La Trobe Financial has opened its La Trobe Private Credit Fund (ASX: LF1) to investors through its Priority Offer and Broker Firm Offer, following a fully subscribed $100 million cornerstone raise.
The lender is aiming to raise up to $300 million, offering units at $2.00 each. The investment vehicle will provide access to a diversified private credit strategy, with a targeted cash distribution yield of the Reserve Bank of Australia’s official cash rate plus 3.25% per annum, net of all associated fees and taxes.
The recently launched fund is supported by a syndicate led by CommSec as lead arranger, alongside joint lead managers Taylor Collison, Ord Minnett, Morgan Stanley, and Shaw & Partners.
“LF1 being open for investment marks an important milestone for La Trobe Financial,” said La Trobe Financial chief executive Chris Andrews (pictured above). “The strategy provides our 110,000 investors, and 4,500 financial advisers even more opportunity to diversify and build their wealth with relevant alternative investments.”
The fund combines La Trobe Financial’s two core private credit strategies in one listed structure. These include its Australian 12-month term account and US mid-market corporate credit fund, offering exposure to both property-backed and corporate credit assets. It will pay monthly distributions and aims for stable returns, with added liquidity options through regular buyback provisions.
“The initial strong interest in the La Trobe Private Credit Fund across advisers and investors clearly demonstrates demand exists for quality assets, delivered in transparent and easy-to-understand structures,” said chief investment officer Chris Paton. “LF1 provides investors with access to an asset class they understand, from a manager they trust, with the convenience of transacting via the ASX.”
To support the offer, La Trobe Financial is running a national investor roadshow and daily webinars. The offer period runs from June 3-13.
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