Big Un collapsed in 2018 after it emerged its revenue was in fact FC Capital loans.
FC Capital and its subsidiary Finstro are still active lenders.
FC Capital is trying to raise $500 million for a new private debt fund.
Small business financier Finstro’s future is in doubt after its major backer, a US regional bank, pushed to oust its chief executive, Brad Prout, and demanded cost savings.
NBH Corporation, a regional bank headquartered in Colorado, invested $20 million in the Australian lender in 2021. But several sources said NBH had grown dissatisfied with its performance and sought the removal of Mr Prout.
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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
