Claire Simpson

JANA Investment Advisers (JANA) has launched the JANA Private Credit Trust (‘the Trust’), expanding its suite of investment trusts to provide wholesale investors with access to a diversified global private credit strategy through an institutional-quality investment structure.

The Trust has already grown to more than $270 million in funds under management and provides access to high-quality global private credit opportunities that are often difficult to source directly in Australia, bringing together JANA’s institutional manager research, portfolio construction and governance capability within a single investment solution.

The JANA Private Credit Trust has been designed to address common implementation challenges associated with private credit investing, including manager access, portfolio diversification, capital deployment and ongoing governance.

The launch reflects growing demand from wholesale investors for private credit solutions that combine rigorous manager selection, strong governance and efficient implementation.

Robert Moore, Head of Debt at JANA, said: “Private credit has rewarded investors well, but the way investors access the asset class matters. In building the JANA Private Credit Trust, we considered the practical issues that can affect investor outcomes, including slow deployment, cash drag, fee leakage during ramp-up, cash-style benchmarks and unhedged currency exposure.

“We set out to address each of these in the JANA Private Credit Trust through a structure designed to provide efficient implementation, day-one credit market exposure and a more relevant framework for measuring private credit performance.”

Key features of the Trust include:

• Institutional-quality manager selection: JANA has appointed two experienced private credit managers through customised mandates designed specifically for the JANA Private Credit Trust, providing tailored portfolio guidelines rather than relying on off-the-shelf flagship funds.
• Portfolio construction: The Trust targets what JANA assesses as one of the strongest risk-adjusted segments of the global private credit market – core middle-market corporate direct lending across the US and Europe.
• Reducing cash drag: The Trust has been designed to provide investors with immediate market exposure while capital is progressively deployed into private market investments, helping reduce the cash drag often associated with open-ended private credit products.
• Benchmark transparency: The Trust adopts the Cliffwater Direct Lending Index, net of fees, unlevered and hedged into Australian dollars, providing a more relevant reference point for measuring private credit performance than traditional cash-style benchmarks.

The new Trust builds on JANA’s long history of constructing multi-manager portfolios for institutional investors.

JANA Investment Trusts have been operating since 1994 and manage approximately $18.8 billion across 25 trusts, spanning a broad range of asset classes for institutional investors, including universities, charities, insurers and other liability-aware institutions.

Manager selection sits at the core of the Trust’s investment approach. JANA has appointed Arcmont^[1], an investment affiliate of Nuveen, and Jefferies Credit Partners^[2] through customised mandates based on their institutional experience, disciplined underwriting, focus on downside protection and alignment with JANA’s rigorous governance standards.

Claire Simpson, Head of Investments, JANA Investment Trusts, said: “Private credit has evolved into an increasingly important component of diversified portfolios, yet many of the highest-quality opportunities remain difficult for investors to access directly.

“As private credit continues to mature as an asset class, we believe the differentiator will increasingly be manager selection, efficient implementation and product design, portfolio construction and strong governance – not exposure alone. The JANA Private Credit Trust brings these disciplines together through carefully selected global managers, customised mandates and JANA’s institutional research and governance capability.

“Designed for wholesale investors with a long-term investment horizon, the Trust provides access to institutional-quality private credit exposure through a professionally managed structure focused on efficient implementation and long-term investment outcomes.”

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Notes:
[1] Arcmont Asset Management, an investment affiliate of Nuveen (the asset manager of TIAA), is a private credit asset management firm providing flexible capital solutions to a wide range of businesses in Europe. Established in 2011, Arcmont has raised approximately €45 (A$74) billion of investable capital from investors globally and has committed over €44 (A$72) billion across more than 540 transactions from its launch. Headquartered in London, Arcmont’s presence spans Amsterdam, Frankfurt, Madrid, Milan, Munich, Paris, Stockholm and New York. It maintains a local origination network and builds and preserves close relationships with sponsors, borrowers and local intermediaries.
[2] Jefferies Credit Partners (“JCP”) is the investment management division of Jefferies Finance LLC, an over 20-year-old joint venture between Massachusetts Mutual Life Insurance Company, a global, diversified life insurance and financial services organization, and Jefferies Financial Group Inc. a leader in global investment ba

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Daniel Park

JANA Investment Advisers (JANA) is pleased to announce the appointment of Daniel Park as Investment Grade Debt Lead.

Daniel’s appointment builds on JANA’s established investment grade debt capability, further strengthening support for clients navigating increasingly complex fixed income environments.

Reporting to Robert Moore, Head of Debt Research, Daniel will lead JANA’s investment grade debt research function, with responsibility for manager research, capital markets analysis and portfolio construction. He will work closely with JANA’s consulting and investment teams and play a key client-facing role, supporting investment committees and boards as a subject matter expert in investment grade debt.

Mr Park joins JANA from Mercer, where he was Head of Fixed Income within the Pacific region. Prior to this, he held senior roles at BT, including Head of Income and Alternatives and Head of Interest Rates, overseeing multi-billion-dollar public and private debt portfolios.

Daniel Park said: “Investment grade debt markets are evolving rapidly, and investors are facing a more complex mix of risks and opportunities. I’m looking forward to contributing to JANA’s strong investment grade debt research capability across manager research and portfolio construction.”

Robert Moore, Head of Debt Research at JANA, said: “The fixed income environment is becoming more dynamic, with higher interest rates, increased volatility and greater breadth and dispersion across credit markets changing the opportunity set for investors. Daniel’s deep expertise across investment grade credit, capital markets and multi-manager portfolio construction strengthens JANA’s ability to navigate this evolving landscape and support clients with robust, forward-looking advice.”

Daniel officially commenced his role at JANA on 19 January 2026.

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Investment in leadership and growth

These promotions follow the recent appointments of JANA’s new Heads of Sustainability, Infrastructure and Alternatives, and reflect the firm’s annual process to support the ongoing growth and development of its people – ensuring JANA continues to deliver positive outcomes for our clients and their beneficiaries.

The new appointments highlight the deep breadth of talent across JANA, which forms the foundation for delivering trusted, high-quality advice in an increasingly complex investment landscape. With more than 100 investment professionals and over A$1.7 trillion in funds under advice, JANA continues to strengthen its capability across investment consulting, research and implementation.

“These appointments recognise people who consistently deliver high-quality outcomes for our clients and embody the depth of thinking and collaboration that define JANA,” said Georgina Dudley, Chief Executive Officer.

“Our culture is built on shared purpose and client focus, and these promotions celebrate the people who bring that to life every day. They also reflect JANA’s commitment to investing back into our people. JANA has been fortunate, through strong staff retention, to have the ability to promote exceptional talent from within, creating opportunities for growth and reinforcing the strength that sets us apart.”

The promotions span a broad cross-section of JANA’s advisory, research, and investment teams – reflecting the collective effort and expertise that drive strong client outcomes and sustained growth across the firm.

Promotions to Principal Consultant

• Bill Dwyer – Client Investment Consulting
• Ed Giudice – Client Investment Consulting
• Matthew Moon – Private Equity
• Robert Moore – Fixed Income
• Prashanthi Nadarajah – Client Investment Consulting
• Christopher Worthington – Quant & Risk

Additional Senior Promotions

• Kevin Fernando, Senior Consultant
• Sadru Karim, Senior Manager

These promotions acknowledge the depth of expertise and leadership across JANA’s consulting, research and operational teams, reinforcing the firm’s ability to deliver superior investment outcomes for clients.

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Promotions and role transitions

Matthew Gadsden: Head of Research Execution

Matthew Gadsden has been appointed to the newly created role of Head of Research Execution. This role focuses on driving efficiency and enhancing cross-functional collaboration across investment-facing areas of the business. Leveraging JANA’s deep research expertise, Matthew will optimise investment advice and performance outcomes for clients.

Justin Tay: Head of Global Equities Research

Justin Tay has stepped into the role of Head of Global Equities Research, succeeding Matthew Gadsden. With over seven years of experience within JANA’s Global Equities Research team, Justin brings a wealth of knowledge and expertise to this critical area.

Robert Moore: Head of Debt / Sub-Investment Grade Debt Lead

Robert Moore will continue leading JANA’s Debt Research team (formerly Fixed Interest Research team), overseeing the strategic direction and client advice within the sector. He will also assume the position of Research Lead for Sub-Investment Grade Debt Lead. Robert’s dedicated focus will support the rapidly growing client interest in this area. 

Martin Rea: Investment Grade Debt Lead

Martin Rea has been promoted to the role of Investment Grade Debt Lead. In this capacity, he will oversee JANA’s Cash and Diversified Fixed Interest advice and solutions, further demonstrating JANA’s dedication to providing targeted, high-quality investment solutions.

 New additions to the team

In late 2024, JANA appointed Victoria Hugh as Senior Product Manager, strengthening JANA’s leadership in Investment Trusts. Victoria will leverage her extensive experience in financial services to drive product development to meet evolving client needs.

JANA is also excited to welcome the following new team members:

• Stephanie O’Brien joins as a Senior Consultant in the Property Research team
• James Leos joins as a Senior Consultant in the Private Equity Research team
• Tina Nguyen joins as a Consultant in the Infrastructure Research team

Georgina Dudley, CEO of JANA, commented on the appointments: “These appointments highlight JANA’s commitment to building an agile and independent consulting model that prioritises the needs of our clients. By investing in our people and expanding our leadership capabilities, we’re ensuring that JANA remains at the forefront of delivering innovative, high-quality research and advice across all asset classes. This is an exciting time for JANA as we continue to grow our presence in the market and reinforce our position as trusted advisers to some of Australia’s largest institutional investors.”

JANA has consistently evolved its consulting offering to meet the growing needs of its clients. This includes expanding its proposition to serve a broader range of clients across Australia and New Zealand, including superannuation, not-for-profit, insurance, and wealth segments, while maintaining a focus on delivering tailored, strategic solutions to address the unique challenges faced by institutional investors.

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