Third institutional shareholder agrees to buy undisclosed minority stake in $27 billion non-conforming lending giant
La Trobe Financial, one of Australia’s largest non-bank lenders, now has a third institutional shareholder.
The Ontario Municipal Employees Retirement System (OMERS), one of Canada’s largest defined benefit pension plans, has agreed to buy an indirect minority interest in La Trobe from majority owner Brookfield.
La Trobe did not disclose the price or the size of the stake. Brookfield will remain majority shareholder and OMERS will sit alongside Brookfield and Axight as an institutional investor.
La Trobe said there would be no change to its management team, strategy, investment philosophy or the way investor funds are managed.
OMERS holds around C$151.5 billion ($154 billion) in net assets. The transaction needs customary regulatory approvals and is expected to close by January 2027.
La Trobe chief executive Chris Andrews (pictured) called the investment an endorsement of the business. “OMERS’ investment is a strong vote of confidence in La Trobe Financial, our people and the platform we have built over more than seven decades,” he said.
“We are pleased to welcome another highly regarded, long-term institutional investor to our shareholder base. OMERS shares our conviction in the growing opportunity to provide high-quality investment offerings to Australian investors, and its investment provides further support for the continued execution of our strategy.”
Global capital keeps flowing into La Trobe Financial
The OMERS deal continues a run of ownership changes at the lender. In 2022, Brookfield bought the business from US asset manager Blackstone and then-chief executive Greg O’Neill.
In April 2026, Abu Dhabi-based private equity firm Axight took a minority stake. Axight was established by Lunate, a US$115 billion ($164 billion) global investment firm also headquartered in Abu Dhabi.
Andrews said Brookfield “remains our majority shareholder and an important strategic partner. Its support, operating expertise and global perspective have contributed to the continued development of our business since its investment in 2022”.
The latest investment comes during a period of record growth for La Trobe, despite mounting headwinds in the private credit space.
Assets under management have reached $27 billion, up from $22 billion at the end of 2025 and $25 billion in July 2026. It manages capital for more than 130,000 individual and institutional investors.
Since 2022, La Trobe has launched a US private credit product and a listed investment trust on the Australian Securities Exchange (ASX). It has also invested in systems to improve investor engagement, client service and operating efficiency.
“Together with Brookfield, Axight and now OMERS, we have an exceptional group of institutional shareholders aligned behind La Trobe Financial’s next phase of growth,” Andrews said. “Our focus remains unchanged: delivering strong outcomes for our investors and borrowers, maintaining disciplined capital management and continuing to invest in our people, products and capabilities.”
