The billionaire family behind the Primo empire is using the proceeds from the sale of the smallgoods producer to build a new business in private credit and has extended over $200 million in loans to property developers.
The Lederers, who sold Primo to Brazil’s JBS for $1.45 billion in 2014, launched 3 Capital two years ago. The firm is now among a growing number of players in the lucrative private credit market run by wealthy families.
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Primrose Riordan covers private companies and family offices from the AFR's Sydney newsroom. Primrose was previously a correspondent for the Financial Times and covered foreign affairs and politics in Canberra. Primrose has won multiple awards for her journalism including from The National Press Club, SABEW in the US and Press Gazette in the UK. Message Primrose on Signal: https://tinyurl.com/PrimroseSignal Connect with Primrose on Facebook and Twitter. Email Primrose at primrose.riordan@afr.com
