AustralianSuper, Australia’s largest superannuation fund, today announced it has increased the program size of its partnership with Churchill Asset Management, an investment specialist affiliate of Nuveen, to $1.5 billion.The investment program targets senior and unitranche loans to private equity-backed U.S. middle market companies and builds on the partnership established in December 2022.
AustralianSuper has over $4.5 billion invested in private credit globally, with the stated ambition to triple its exposure in coming years through a mix of direct lending by its in-house private credit team and strategic partnerships with best-in-class specialist managers such as Churchill.
AustralianSuper was ranked as the 18th largest pension fund in the world** earlier this year in the Pensions and Investments / Thinking Ahead Institute’s Global Top 300 Pension study. The Fund manages more than $300 billion of retirement savings on behalf of its 3.3 million members. AustralianSuper is looking to increase its investments in private credit as it is an asset class which could have the potential to provide attractive income, returns and stability during uncertain economic times.
