Australian instos inject $705m into Nuveen strategy

Brighter Super and JANA are among a group of Australian institutional investors who have injected $705 million into Nuveen's Arcmont Asset Management European direct lending strategy.

Brighter Super, JANA Private Credit Trust and two other Australian institutional investors have committed to the strategy, which targets senior secured unitranche and subordinated loans to European middle and upper middle market companies.

The portfolio focuses on business in non-cyclical and defensive sectors, providing Australian investors with access to European private credit at scale.

Nuveen, which manages $1.4 trillion in assets globally, said the investment reflects growing demand among Australian institutions for income-generating private credit strategies and greater diversification across private markets.

Arcmont, a Nuveen investment affiliate, has $74 billion of investable capital and provides flexible capital solutions to businesses across Europe. The firm has raised capital from more than 495 global investors across its direct lending, senior loan, NAV financing, impact lending and capital solutions strategies over the past 15 years.

Brighter Super chief executive Kate Farrar said the investment would add diversification and resilient income to the fund's private markets portfolio.

"This investment reflects our focus on high-quality private credit opportunities that can provide resilient income and diversification for members," Farrar said.

"Arcmont's disciplined investment approach and deep European market expertise make the strategy a strong fit within our broader private market portfolio."

Arcmont chief executive Anthony Fobel said private credit remained an important component of institutional portfolios as investors seek to diversify income sources and defensive characteristics.

"We are delighted to partner with these leading Australian investors through a dedicated solution that provides efficient access to Arcmont's European direct lending platform at significant scale," Fobel said.

"We look forward to supporting their investment objectives through our disciplined investment approach, strong sponsor relationships and long-term partnership mindset, hallmarks of Arcmont's strategy for more than a decade."