JANA Investment Advisers opens $270M private credit trust to wholesale investors

JANA Investment Advisers has expanded its Private Credit Trust to include wholesale investors. The vehicle already manages $270 million in funds from institutional capital.

The trust focuses on core middle-market corporate direct lending within the United States and Europe. To manage the portfolio, JANA has appointed Arcmont, an investment affiliate of Nuveen, and Jefferies Credit Partners through customized mandates.

The fund structure is designed to mitigate common private credit implementation issues, such as slow capital deployment, cash drag, fee leakage during ramp-up, and unhedged currency exposure. It aims to provide day-one market exposure and utilizes the Cliffwater Direct Lending Index as a reference benchmark, net of fees and hedged into Australian dollars.