Australia’s Pengana Capital Group is launching a listed non-public credit score fund aimed on the retail market.
The Pengana World Personal Credit score Belief is an evergreen automobile traded on the Australian Securities Trade (ASX), enabling traders to promote on market or on a quarterly foundation at NAV.
The asset supervisor says this listed construction will give traders higher liquidity than usually illiquid non-public credit score funds.
The brand new belief will concentrate on lending to center market corporations with $50m (£40.5m) to $250m annual EBITDA.
Learn extra: M&G Actual Property names Australia head
Pengana claims that the brand new belief is “essentially the most diversified international non-public credit score fund on the ASX”, giving traders publicity to 2,000 particular person loans throughout 19 underlying funds, sourced and rated by Mercer.
Pengana appointed Mercer final yr as an funding adviser on its portfolio building for its non-public credit score arm, because it appears to be like to develop that phase of its enterprise.
Learn extra: Ares raises £1.3bn for Australian non-public debt fund
“World non-public credit score has a powerful monitor report of low volatility, enticing returns and low correlation to different asset courses similar to public mounted earnings and fairness, which may present diversification advantages by enhancing portfolios’ risk-adjusted returns,” Pengana mentioned.
The brand new, listed non-public credit score automobile follows the launch of Pengana’s inaugural non-public credit score fund final yr.
Pengana shareholder Washington H. Soul Pattinson made a $200m funding to seed the worldwide non-public credit score portfolio, with plans to roll out a collection of autos tailor-made to several types of traders.
Learn extra: BlackRock appoints new head of Australasia non-public credit score
