La Trobe debuts first ASX-listed investment product

La Trobe Financial, the Brookfield-owned alternative asset manager with $20 billion in assets under management, has launched its first fund on the ASX.

The IPO seeks to raise between $100 million and $300 million, with units priced at $2.00.

La Trobe Financial chief executive Chris Andrews said the ASX listing marks a very "significant milestone" for La Trobe and its 110,000 investors.

"For the first time, investors will be able to invest with us on the ASX. We're 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," Andrews said.

The La Trobe Private Credit Fund (ASX: LF1) is a diversified private credit strategy benchmarked to the Reserve Bank of Australia Official Cash Rate plus 3.25% per annum, net of fees, costs, and taxes, targeting monthly distributions.

The fund offers a "balanced and flexible" exposure to Australian real estate private credit through La Trobe's 12 Month Term Account and US-mid market corporate private credit via its US Private Credit Fund, which was developed in collaboration with Morgan Stanley.

La Trobe Financial chief investment officer Chris Paton said that the fund combines its "two flagship, best-in-class strategies."

"It provides a conservative and diversified exposure to private credit, with the convenience of investing via the ASX. We're delighted that we can provide our investors with another high-quality product, which we expect will deliver a strong monthly income stream," Patton said.

The fund was brought to market with the backing of a syndicate led by CommSec, alongside Taylor Collinson, Ord Minnett, Morgan Stanley, and Shaw & Partners, and is currently in its cornerstone investment phase.

La Trobe said the strategy is well supported and provides another strategic funding option.

La Trobe ranked among the top wholesale fund managers by net flows over the year to March 31, according to Rainmaker Information. Only Metrics recorded higher net flows outside ETF heavyweights Betashares, BlackRock, Vanguard, and VanEck.

La Trobe's Australia Credit Fund 12 Month Term Account topped actively managed funds by net flows over the period.