Melbourne’s Oak Capital, a non-bank lender which specialises in real estate financing, is being probed over the way it collects fees as the corporate regulator increases its surveillance and scrutiny of the booming private capital market.
The Australian Securities and Investments Commission last month said it would put together a dedicated team to investigate conflicts of interest and determine how firms value the assets they have lent against. At the time, chairman Joe Longo said he was also concerned that investors in private credit funds may not be adequately protected.
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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
Aaron Weinman is a correspondent at The Australian Financial Review who covers investment banks, private equity firms and the broader capital markets. Connect with Aaron on Twitter. Email Aaron at aaron.weinman@afr.com
