Tanarra Credit Partners (“TCP”), a private credit investment firm, has selected Equity Trustees to be the responsible entity of its new fund, the TCP Private Debt Income Fund.
Russell Beasley, Executive General Manager, Corporate Trustee Services, Equity Trustees said: “We are very pleased to be selected as the responsible entity role for this new private debt fund by TCP and look forward to working closely with them now and into the future in this growing asset class.”
The TCP Private Debt Income Fund aims to provide investors attractive risk-adjusted returns with a focus on capital preservation. It seeks to achieve this by providing credit / lending to primarily mid-market corporates here in Australia and for select corporates across the Asia-Pacific region.
“There is growing demand for alternate sources of capital by medium-sized companies in Australia and Asia-Pacific as they grow.”
Peter Szekely, Managing Partner at TCP said, "We’re excited about the launch of this fund and providing credit facilities to a range of companies here and in the region and passing the income generated from these loans to our core sophisticated investors.”
He said there is growing demand for alternate sources of capital by medium-sized companies as they grow.
“We have developed what we think is a differentiated offering for local corporate borrowers as well as investors in the non-investment grade credit space. By targeting asset-light growth companies in Australia and across the Asia-Pacific, our objective is to fill that financing gap for companies as traditional banks experience reduced appetite for lending to mid-market corporates amid tight regulatory capital requirements.”
“This fund also provides us with more flexibility and the ability to be move nimbly to optimise credit investments especially in this rising interest rate and inflationary environment,” he said.
TCP has over A$750 million in assets under management and is a part of Tanarra Group, a specialist alternative investment group with A$3 billion in assets under management. TCP has had strong support from large, high-profile Australian institutional investor clients, and is expanding access to individual investors with the TCP Private Debt Income Fund.
Equity Trustees’ Mr Beasley added: “Our expertise and years of experience in funds governance sets us up well to work with asset management firms right across the debt and equity spectrum.”
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Equity Trustees is the brand name of EQT Holdings Limited (ABN 22 607 797 615) and its subsidiary companies, publicly listed company on the Australian Securities Exchange (ASX: EQT) with offices in Melbourne, Bendigo, Sydney, Brisbane, Perth, London and Dublin.
Equity Trustees was established in 1888 for the purpose of providing independent and impartial Trustee and Executor services to help families throughout Australia protect their wealth. As Australia’s leading specialist trustee company, we offer a diverse range of services to individuals, families and corporate clients including asset management, estate planning, philanthropic services and Responsible Entity (RE) services for external Fund Managers.