Australia Watchdog Issues Stop Order to La Trobe Credit Fund

Australia’s corporate watchdog has temporarily banned La Trobe Financial Asset Management Ltd. from marketing its US private credit fund, citing concerns that the product may not be “suitable” for consumers.

The Australian Securities & Investments Commission’s order prevents marketing of La Trobe US Private Credit Fund to investors for 21 days, according to a statement Thursday from the regulator. Australian credit asset manager La Trobe is owned by Canada-based Brookfield Corp.