Yorkway Private, a Sydney-headquartered private credit firm, is raising $10 million from investors to help fund a loan to a trustee company so it can pay out investors defrauded by fugitive Michael Gu and his iProsperity business.
One Investment Group, which provides trustee services to the funds’ management industry, is also part-owned by Yorkway Private. It administers over 450 funds and says it has assets under management of $70 billion.
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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
