Northleaf names private credit fund trustee

Yasmine Raso

Senior Journalist, Financial Newswire

17 March 2023

Global private markets investment manager, Northleaf Capital Partners, has chosen Equity Trustees to be the Trustee and Custodian of its NSPC AUD Investor Trust fund (NSPC Australia).

The senior private credit fund, available to Australian wholesale investors, is an Australian-domiciled unit trust which invests directly in the firm’s Senior Private Credit (NSPC) fund, which is centred around senior secured direct lending to private equity-backed companies and asset-based specialty finance investments in North America, Europe and Australia.

Russell Beasley, Executive General Manager, Corporate Trustee Services, Equity Trustees said Canadian-based Northleaf was one of many international fund managers looking to enter the Australian market and requiring the services of an independent trustee.

“We are pleased to be appointed by Northleaf as the Trustee and Custodian of NSPC Australia and look forward to working with them in this growing asset class,” he said.

The firm first introduced its private credit product suite in 2016 as an expansion of its global private markets platform which also includes private equity and infrastructure.

“We are delighted to offer Australian investors access to our senior private credit fund through a tax-efficient, open-end structure designed specifically for this market,” David Ross, Head of Private Credit at Northleaf, said.

“We look forward to working collaboratively with Equity Trustees and benefitting from their experience in this sector and their specialist expertise as trustees as we continue to grow our private credit program in Australia.”