Pension Giants Down Under Join Global Push Into Private Credit

(Bloomberg) -- Australian pension funds are stepping up direct lending to companies, following their global peers into the booming market for private credit in a hunt for higher-yielding assets.UniSuper, IFM Investors and First State Super -- all giants in the nation’s A$2.9 trillion ($1.9 trillion) retirements savings pool -- are turning to the loan markets, taking on credit mandates or building out their own investment teams.Banks are “starting to exit some of these sectors, which