Australian pension allocates £208m to private credit fund
One of Australia’s largest pension funds, Rest, has invested A$400m (£208m) in Metrics Credit Partners’ real estate private credit fund.
The investment is part of Rest’s plan to diversify its private markets exposure and benefit from favourable interest rates for alternative lenders, according to a statement seen by Bloomberg.
Australian asset manager Metrics’ fund invests in a portfolio of domestic commercial real estate loans. These include office, retail, industrial, residential development, and specialised real estate assets such as hotels and healthcare, according to its website.
Australian pension funds have been ramping up their exposure to private credit of late.
Insignia Financial, UniSuper and AustralianSuper are among the pension funds allocating more to the asset class or planning to invest more.
Private credit giants have been tapping into Australia’s growing market. Earlier this year, Ares Management raised A$2.6bn for a credit fund for Australia and New Zealand, its first leveraged buyout vehicle for the region.