Private credit giant Metrics, which has taken control of Rockpool, has published new disclosures about the makeup of its loans and equity investments to counter market criticism about transparency in Australia’s booming private lending sector.
The reports detail how Metrics has never written down the value of loans in its Metrics Opportunities Trust, despite the fact nearly 9 per cent of the loans are either under enforcement action or being restructured. They also document how strategies under Metrics’ watch are taking on private equity-like dimensions.
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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
Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
