Frank Danieli

Global alternative asset manager MA Financial Group (ASX: MAF) has announced the ASX listing of the MA Credit Income Trust (ASX: MA1), its first listed private credit fund.

MA1 offers investors access to a large, diversified portfolio of MA Financial’s flagship private credit strategies which have each delivered consistent returns and outperformed traditional benchmarks for fixed income investments since inception [1].

Investors in MA1 benefit from exposure to an underlying $3.7bn+ portfolio of 165 private credit investments, diversified across lending strategies in which MA Financial has a proven track record and specialist capabilities: direct asset lending, asset backed lending and direct corporate lending.

Frank Danieli, Managing Director and Head of Credit Investments and Lending at MA Financial said: “The listing of MA1 marks an important milestone for MA Financial Group. We are seeing unprecedented demand in listed investment trusts (LITs) in Australia, with market capitalisation for credit LITs growing by over 12 times since December 2017. Listed investment trusts focused on private credit, in particular, have performed strongly and often trade at a premium to NAV.”

“While MA1 has been developed with this enthusiastic market demand in mind, we are also placing emphasis on transparency and liquidity throughout our portfolio selection, construction, and monitoring process.

“We look forward to expanding our offering to our clients and strengthening our presence as a leading private credit asset manager.”

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Frank Danieli

Global alternative asset manager MA Financial Group has partnered with Equity Trustees as the Responsible Entity and Custodian for its newly launched MA Credit Income Trust (ASX: MA1), the organisation’s first private credit fund which will list on the ASX on Wednesday 5 March 2025.

“The MA Credit Income Trust exemplifies the strength of collaboration between innovative asset managers and experienced Responsible Entities and Custodians,” said Andrew Godfrey, Executive General Manager of Corporate and Superannuation Trustee Services at Equity Trustees.

“We are proud to support MA Financial in bringing this investment opportunity to market and remain dedicated to delivering excellence in trustee services.”

Frank Danieli, Managing Director and Head of Credit Investments & Lending at MA Financial, said: “The launch of the MA Credit Income Trust is a pivotal moment for MA Financial as we continue to build our presence as a leading private credit asset manager. We are proud to be partnering with Equity Trustees, for Responsible Entity and Custodian Services, providing a new way for investors to access our flagship private credit strategies. The Fund has attracted strong interest from investors and introduces asset-backed lending as an essential and innovative element in the private credit landscape.”

The Fund offers investors access to a large, diversified portfolio of MA Financials’ flagship private credit strategies which have delivered consistent returns and outperformed traditional benchmarks for fixed income investments since inception.

MA Financial Group is a global alternative asset manager specialising in private credit, real estate, and hospitality. The firm invests and manages A$9.9 billion on behalf of clients, has A$128 billion in managed loans, and has advised on over A$120 billion in advisory and equity capital markets transactions.

Andrew Godfrey concluded: “Custody and responsible entity services are key requirements for fund managers to ensure the Trust meets its regulatory and compliance obligations.”

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Frank Danieli

Global alternative asset manager, MA Financial (ASX: MAF) has partnered with Humm Group’s (ASX: HUM) asset finance platform, Flexicommercial, to acquire up to $1 billion worth of its commercial asset finance loans via MA Financial’s private credit managed funds in a forward flow arrangement.

This partnership arrangement is an Australian first, giving MA Financial’s private credit funds access to a substantial pipeline of high quality, prime asset finance loans, leveraging the expertise of Flexicommercial. The $1 billion of commercial asset finance loans, including an initial seed pool of $500 million, represent a meaningful portion of Flexicommercial’s origination volume during the initial term of the partnership, alongside its warehouse and term deal programs.

MA Financial’s Head of Credit Investments and Lending, Frank Danieli, said, “Our new strategic partnership with Flexicommercial is an innovative financing strategy and an advancement for Australia’s private credit industry. We have seen the power of co-lending programs globally and are seeking to introduce these opportunities to our local market. This arrangement allows us to access an attractive pipeline of prime asset finance deal flow, diversify MA Financial’s private credit portfolio and participate in the growth of the commercial asset finance sector for our managed funds.

“We have identified asset financing as an attractive lending space for some time. The rise of the broker channel is creating more options for borrowers and a more level playing field for non-bank financiers to provide customers lending solutions. We like sectors where banks are ceding market share and are no longer the most efficient provider of capital. We think there are compelling risk-adjusted returns available in these market gaps. This unique partnership structure with Flexicommercial is an effective way for us to capitalise on these thematics in asset finance for our managed funds.”

“Flexicommerical is one of the leading asset finance providers in Australia with a highly experienced, capable management team and a strong track record. This partnership enables them to focus on what they do best with additional capital.”

Under the partnership, MA Financial’s managed funds will finance the assets along with a global bank, while Flexicommercial will maintain servicing and other loan management responsibilities.

CEO of Flexicommerical, Stuart Grimshaw, said, “Our partnership with MA Financial offers a diversified funding platform with scale to accelerate growth in constrained markets. It’s a strategic opportunity that allows us to service our clients while diversifying our funding sources, creating capital flexibility between our warehouses, term programs and this strategic partnership, which is a ‘capital-lite’ structure.”

“We have worked closely with the team at MA Financial to deliver this new funding platform. As Frank has outlined this is a true strategic partnership and one that will add substantial value to our shareholders and MA Financial’s investors.”

The transaction is underpinned by a diversified pool of high-quality business critical equipment assets, originated, and serviced by a leader in the commercial asset finance sector.

The establishment of the forward flow arrangement represents the beginning of a long-term partnership between MA and Humm, with the potential to scale beyond the initial $500 million seed pool commitment.

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