European PE firm mandates Apostle with Australian distribution

Apostle Funds Management has been appointed by European investment firm Triton Partners for the distribution of its credit strategies in Australia and New Zealand.

Triton manages approximately $41 billion in assets under management, and its private equity and private credit strategies invest in mid-market businesses across business services, industrial tech and healthcare.

The strategies will be available to institutional and wholesale investors.

Apostle executive chair Karyn West said the partnership allows the investment manager to broaden its range of available global expertise for local investors through an experienced manager with strong alignment to its long-term objectives.

"Private credit is entering a new phase of maturity. As higher interest rates, refinancing activity and tighter bank lending continue to reshape global markets, investors are seeking specialist managers with deep sector expertise, disciplined underwriting and the ability to identify opportunities that emerge during periods of market dislocation," he said.

"That is what attracted us to Triton. The firm has built a highly regarded European investment platform over almost three decades, combining deep sector knowledge with an integrated approach across private equity and private credit."

With Australia's sophisticated institutional market, Triton managing partner and head of debt opportunities Amyn Pesnani noted investors are increasingly seeking specialist private market strategies that can provide differentiated sources of return.

"As we looked to establish our presence in Australia and New Zealand, we wanted a partner with strong institutional relationships, an in-depth understanding of the local market and a long-term approach to client partnerships," Pesnani said.

"Apostle's reputation, experience and track record of representing specialist global investment managers made it the natural choice. We look forward to working together to introduce Triton's investment capabilities to investors across Australia and New Zealand and to building a long-term partnership in the region."

Last year, Apostle brought New York-based CastleKnight Management, a US$2.9 billion hedge fund manager, to Australia for the first time. It had also partnered with US-based quantitative investment manager Qtron Investments to provide Australian wholesale and institutional investors access to its global equity strategies.