Australian exchange-traded fund manager Betashares has formed a private asset management unit called Betashares Private Capital to deliver institutional-grade private investment solutions to local wholesale investors and financial advisers.
The unit has teamed up with Cliffwater LLC to offer Australian dollar-hedged exposure on the US alternative manager’s corporate lending fund platform, which focuses on direct loans to mid-market firms in the US.
According to Betashares, which announced the moves in a statement on August 10, private assets can offer “compelling” risk-adjusted returns and complement a diversified portfolio of equities and bonds.
“As a result, there has been strong demand from investors and their financial advisers for high calibre exposures in Australia,” says the Sydney-based firm, which manages around A$50 billion (US$32.6 billion) of assets.
Cliffwater, headquartered in California, manages around $120 billion of assets.
