Retirement fund General Electric Pension Trust (GEPT) has invested $100m (£74.8m) in a private asset-backed credit interval fund managed by Janus Henderson, Victory Park Capital and Privacore Capital.

According to the firms, the investment by GEPT, a defined benefit plan trust affiliated with GE Aerospace, brings total capital raised for the Privacore VPC Asset-Backed Credit Fund to $350m, following commitments from CNO Financial Group and Corbin Capital Partners.

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“GEPT’s investment reflects growing recognition of the potential within asset-backed finance, and we greatly appreciate the opportunity to partner with an investor of its caliber,” said Ali Dibadj, chief executive of global asset manager Janus Henderson.

The interval fund is targeted at private wealth investors and has a portfolio spanning consumer credit, small business financing, real estate, legal credit, and physical assets.

Privacore serves as the adviser to the fund, overseeing its day-to-day management and operations, while Victory Park Capital serves as the sub-adviser.

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Victory Park Capital is a global alternative asset manager specialising in private asset-backed finance, while Privacore is a manager and distributor of investment products for the private wealth market.

The fund is available through the Charles Schwab, Fidelity Investments and BNY Pershing platforms.

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