Axight has acquired a minority stake in La Trobe Financial, underscoring growing international investor interest in Australia’s private credit market.
The Abu Dhabi-based private equity manager has valued Melbourne-based alternative asset and non-bank lender La Trobe at around $3 billion.
La Trobe was acquired by Canadian-based global alternative asset manager Brookfield Asset Management in 2022. Brookfield will continue to be the majority stakeholder in La Trobe following the transaction.
Brookfield said the divestment and introduction of Axight as a shareholder reflects La Trobe's long-term potential in Australia’s real estate and investment markets.
"This transaction is a strong endorsement of La Trobe Financial’s position as one of Australia’s most recognised asset managers, with more than $23 billion AUD in assets under management (AUM) and a 70‑plus year track record through multiple economic cycles," said Chris Andrews, chief executive officer of La Trobe. "It reflects the quality and resilience of our platform, the depth of our investor base and the significant growth opportunities we see across Australian real estate credit and investment markets.”
Axight – which was established by Middle Eastern global investment firm Lunate — said they plan to continue investing across the Asia Pacific Region. La Trobe, which was established in 1952, has more than $23 billion in AUM.
In early 2025, it was reported that Brookfield was enlisting help for a potential sale of the brand.
"The investment by Axight in La Trobe Financial confirms the strength of the business model and the rapid growth that we are experiencing," Cory Bannister, chief lending officer at La Trobe, told Australian Broker. "There will be no change to our strategy, or to our appetite for any loan product.
"La Trobe Financial remains absolutely committed to delivering the broadest product set and best service in market to Australian brokers," he added.
The firm declined to comment on how much Axight invested or what minority stake it would hold.
The deal highlights the continued flow of global capital into Australia’s private credit market. It also reflects a broader shift in dealmaking, with private equity firms increasingly recycling capital through minority stakes and secondary transactions rather than full exits. More broadly, big investors are treating non-bank lenders as long-term income-generating platforms rather than short-term acquisition targets.
For La Trobe Financial, the additional capital base is likely to support larger and more complex lending activity, while strengthening its ability to remain active through tighter credit cycles, an outcome that could benefit Australia’s growing commercial broker market.
At the same time, increased institutional backing points to intensifying competition in the non-bank lending sector, which could translate into faster turnaround times and more competitive pricing in certain segments.
