Income Tailwinds
Attractive industry & market tailwinds, with growing addressable market
7.50% p.a*
Target Distribution Return$9.515718
Unit Price (as at 31/07/2026)**1 December, 2023
Class A Inception DateTarget Distribution Return (Annualised target yield, net of fees and expenses & before adjustments for FX rate fluctuations.)
Overview
The US middle market is benefiting from the biggest investment tailwinds of the coming decades. This includes re-shoring of jobs and manufacturing to middle-America and the AUD$500+bn pledged by the US Government to support decarbonisation.
Australian investors can access this asset class through a strategy carefully curated by our product partners, Morgan Stanley.
The US Private Credit Fund indirectly invests into a defensive portfolio comprising a majority of directly originated senior secured loans issued to US middle market companies.
Note: This offer is exclusively for Wholesale investors.
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Objectives
Quality Assets
Directly negotiated senior debt, majority or predominantly PE sponsored.
Quick Facts – Class A Units
Fund Inception
1 December 2023
Underlying Fund
LGAM Private Credit LLC
Target Distribution Rate
Annualised distribution yield of 7.50% p.a.*
Distributions
Monthly
Liquidity
Quarterly, generally up to 5% of Class A units#
Currency
AUD denominated - capital exposures hedged by La Trobe Financial on a best endeavours basis~
Management Fee
0.75%
Minimum Investment
$10,000
Asset Class
Fixed Interest
Important information : This offer is for wholesale investors in Australia only. For the avoidance of doubt, these products are not intended to be sold to US Persons as defined under Regulation S of the US federal securities laws.
~ While the Responsible Entity intends to do this on a best endeavours basis, the Fund may not provide complete protection from adverse currency movements.
* The target distribution return is net of fees and expenses but excludes any adjustments for FX rate fluctuations. The target return is reviewed monthly and may change. This target return is determined with reference to the return benchmark of the Secured Overnight Financing Rate (SOFR) + 3.50% as at 10 December 2025. This is a target return only and may not be achieved.
# Redemption requests are generally processed on a quarterly basis in accordance with the Information Memorandum. Investors do not have a right to redeem and the Responsible Entity (RE) may reject redemption requests. The ability to redeem is subject to liquidity and the processing of redemptions may be delayed or suspended in certain circumstances. The RE will limit redemptions to up to 5% of the issued Class A Units each quarter. Redemption requests exceeding that limit may be accepted by the RE, pro-rated or scaled back to 5%. Please refer to the Information Memorandum for more details about redeeming Class A Units and how to submit a redemption request form.
Understanding The Risks
When considering your investment in the La Trobe US Private Credit Fund (Fund), it is important that you consider such things as the risks involved in investing in the Fund, the extent that an investment in the Fund fits your financial objectives and goals, your risk appetite and the risks that other investment opportunities have. Detail about the risks attaching to investing in the Fund and the Underlying Fund (LGAM Private Credit LLC) are set out section 6 of the IM (Investment Risks). A list of some of the investment risks that we describe in Section 6 of the IM are Liquidity Risk, Valuation Risk, Interest Rate Risk, Currency Risk, Derivative Risk, Counterparty Risk, Regulatory & Political Risk, Taxation Risk, Conflicts of Interest Risk, Distribution Risk, Target Performance Risk, Fund Management and Operational Risk, NAV Calculation and Reporting Risk, Investment Manager Reliance and Conduct Risk.
How To Invest
Simply complete the application form attached to the Information Memorandum and forward this to [email protected].
La Trobe US Private Credit Fund and Underlying Fund Characteristics
As at 30 June 2026.
Underlying Fund Loan Assets
7As of 31 May 2026, based on fair market value. No guarantee can be given that the Fund will be able to identify similar or comparable investment opportunities, or have the same overall composition as shown above, in future periods. The Fund’s portfolio composition is subject to change any time without notice as permitted by the Fund’s offering and governing documents, as may be supplemented and amended. Figures shown are unaudited and are rounded and therefore totals may not sum.
View the latest Fund Profile
Ratings
Our ratings reports are only one factor to consider when deciding to invest. These reports are intended for the professional use of financial advisers only. By accessing any of the reports below you are confirming that you hold an AFSL or are an authorised representative. View (1), (3) and (4) on our Investor Disclaimer page for further information.
Zenith Investment Partners
La Trobe US Private Credit Fund – Class A Units rated “Recommended” – 2025
SQM Research
La Trobe US Private Credit Fund – Class A Units rated “High Investment Grade 4 stars” – 2025
Lonsec Research
‘Recommended’ rating for the La Trobe US Private Credit Fund Class A Units – 2025
(Please contact your BDM for access to this report)
How to Get Started
Information Memorandum
Download the Information Memorandum for Class A Units
Application Form
Complete the investor application form
Return to Us
Scan and email your application form to our investor team.
Contact us
We are always here to help. Talk to our friendly Asset Management team – 1800 818 818
~ While the Responsible Entity intends to do this on a best endeavours basis, the Fund may not provide complete protection from adverse currency movements.
* The target distribution return is net of fees and expenses but excludes any adjustments for FX rate fluctuations. The target return is reviewed monthly and may change. This target return is determined with reference to the return benchmark of the Secured Overnight Financing Rate (SOFR) + 3.50% as at 10 December 2025. This is a target return only and may not be achieved.
*** The Unit Price refers to both the Redemption and Issue Price.
# Redemption requests are generally processed on a quarterly basis in accordance with the IM. Investors do not have a right to redeem and the Responsible Entity (RE) may reject redemption requests. The ability to redeem is subject to liquidity and the processing of redemptions may be delayed or suspended in certain circumstances. The RE will limit redemptions to up to 5% of the issued Class A Units each quarter. Redemption requests exceeding that limit may be accepted by the RE, pro-rated or scaled back to 5%. Please refer to the IM for more details about redeeming Class A Units and how to submit a redemption request form.
1 The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) ratings (LTC1706AU, LTC8436AU, LF1 and LTC0002AU assigned 30 Mar 2026, 30 Mar 2026, 30 Mar 2026 and 30 June 2026 respectively) referred to in this piece is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual, including target markets of financial products, where applicable, and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at Fund Research Regulatory Guidelines.
3 The ratings published on 10/2025 for LTC0002AU La Trobe 12 Month Investment Account and on 10/2025 for La Trobe US Private Credit Fund Class A LTC8436AU and B LTC1706AU and La Trobe Private Credit Fund LF1 are issued by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec Research). Ratings are general advice only, and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec Research assumes no obligation to update. Lonsec Research uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. © 2026 Lonsec. All rights reserved.
4 SQM Research is an investment research firm that undertakes research on investment products exclusively for its wholesale clients, utilising a proprietary review and star rating system. Information contained in this document attributable to SQM Research must not be used to make an investment decision. The SQM Research rating is valid at the time the report was issued, however it may change at any time. While the information contained in the rating is believed to be reliable, its completeness and accuracy is not guaranteed. The SQM Research star rating system is of a general nature and does not take into account the particular circumstances or needs of any specific person. Only licensed financial advisers may use the SQM Research star rating system in determining whether an investment is appropriate to a person’s particular circumstances or needs. You should read the product disclosure statement and consult a licensed financial adviser before making an investment decision in relation to this investment product. SQM Research receives a fee from the Fund Manager for the research and rating of the managed investment scheme.