The billionaire family that co-founded the Westfield shopping centre empire is expanding its lending to the wealthy, becoming the latest deep-pocketed investor to expand into the fast-growing private credit market.
The late John Saunders founded Westfield with Frank Lowy, but split with the businessman in 1987. The proceeds of the split became Terrace Tower Group, which has been controlled by Mr Saunders’ daughters – Monica Saunders-Weinberg and Betty Saunders-Klimenko – since 1997.
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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
