This Month
Metrics hits back at critics, says there’s plenty of money flowing in
The private credit giant held a conference call with investors after a big financial planner recommended advisers sell their funds.
Financial planning giant abruptly tells advisers to sell Metrics funds
Count Financial said it would also launch a wide-ranging review of private credit to assess whether the returns were still work the risk after recent turmoil.
The stressful life of Sydney’s left-of-field distressed debt broker
Ben Madsen has long had a low profile. Now he’s found himself the centre of unwanted attention, and is fighting for his home. Can he come back from the brink?
Billionaire Nicola Forrest appoints UBank boss to run family office
The country’s second-richest woman has been building up the charitable and investment sides of her family office, Coaxial Foundation and Coaxial Ventures.
Melbourne private lender spruiks funds despite gating redemptions
Banner Asset Management was the largest lender to the glitzy Chevron One development on the Gold Coast, and stopped allowing withdrawals more than a year ago.
‘Do we just keep fighting?’ Morrison’s advice to Zelensky
The former prime minister told a room of executives and business leaders to look past the US president’s “sound and fury” to his aim – peace in Europe.
Accounts show billionaire Ed Craven’s private vehicle in revenue surge
The Stake.com co-founder’s Easygo Solutions also has hundreds of millions of dollars in cryptocurrency holdings, its financial statements show.
‘It’s the Wild West’: Why ASIC is worried about private credit
Private credit firms are scrambling to manage problem loans, as the regulator sets its sights on lax governance.
February
What family offices are investing in
This booming sector likes to keep a low profile. But its secrets aren’t always far from the surface.
The secretive billionaire who has had Richard White’s back for 20 years
WiseTech director and major shareholder Charles Gibbon has always been known as the master of the exit. How will he navigate WiseTech’s latest governance saga?
The line between private credit and private equity is blurring
Private credit giant Metrics has stepped up its disclosures on the exposures of its listed funds as rival managers call out risks in Australian lending.
Reclusive iron ore magnates $8b richer after selling to Japan’s Mitsui
The Bennett and Wright families are the heirs to the fortune made by Peter Wright, the business partner of mining magnate Lang Hancock.
Machiavelli’s Toppi family fight over doyenne’s will
With intrigue befitting the family restaurant’s name, Sydney restaurateur Paola Toppi is accusing her brother of mismanagement.
Jon Adgemis fails in bid to conceal bankruptcy pursuit over $26m debt
The former KPMG dealmaker turned publican had argued that revealing details of the dispute could cause the collapse of his troubled hospitality empire.
Fortescue heart-to-hearts make unionisation redundant: Forrest
Chairman Andrew Forrest reckons his staff are unlikely to unionise, as workplace reforms bring unions back into the nation’s most lucrative export industry.
Cult chicken chain El Jannah says sales will push $300m this year
The popular Lebanese outlet’s chief executive is planning to nearly triple the number of stores in the next two years as it takes on major fast-food chains.
January
Merricks’ flagship credit fund goes negative after Sydney CBD pain
Documents circulated to investors in the $1.2 billion vehicle noted there were four loans performing worse than expected amid a difficult office market.
Luxury apartment in Gurner complex offered at $1.3m discount
The Saint Moritz development, popular with Melbourne’s elite, boasts a 25-metre pool and a bar. But it has also been the subject of complaints about defects.
$300m private credit fund blocks investor redemptions to preserve cash
Gemi Investments’ safest vehicle has lent about $300 million to commercial real estate projects, and backers say their money is stuck.
Former Lazarus broker accused of fraud, investigated by ASIC
The firm’s one-time senior dealer allegedly directed clients to pay his personal bank accounts by “amending” the Sydney company’s invoices.