Yesterday
Count Financial keeps some private credit in the family
Count took the bold step of telling advisers to sell off holdings in some private credit funds this month. But Realm products are still in favour.
Financial planning giant abruptly tells advisers to sell Metrics funds
Count Financial said it would also launch a wide-ranging review of private credit to assess whether the returns were still work the risk after recent turmoil.
This Month
The stressful life of Sydney’s left-of-field distressed debt broker
Ben Madsen has long had a low profile. Now he’s found himself the centre of unwanted attention, and is fighting for his home. Can he come back from the brink?
January
Metrics takes control of Melbourne site to rescue $750m development
The private credit firm, one of the country’s largest, says taking over the project is the best way of protecting its investors after a sales process failed.
December 2024
Singapore’s CapitaLand nails $200m Wingate deal
CapitaLand confirmed its intended acquisition of Wingate for $200 million as the Asian real estate manager expands into private credit.
Brookfield-backed debt collection giant Panthera finds new owner
Privately owned credit agency Francom has emerged as the new owner of the company, which collapsed this year following a dispute between its founders.
November 2024
Private credit will lick its lips over Peabody’s $3.2b bridge loan
We’ve seen this movie elsewhere in Australian coal: a miner buys mines, and funds the deal with a short-term loan. Enter private credit.
September 2024
Digital debt collector worth $350m after big money raise
Business booms for InDebted when cost-of-living hits consumers. It has attracted new investors, including a super fund to back a rare valuation increase.
July 2024
This private credit fund is going big on companies failing ESG tests
Balmain Corporation said it had considered calling the strategy a “Vulture Series” – but decided naming it after a different bird of prey was more appropriate.
Panthera Finance administration prompted by founder stoush: PwC
The Brookfield-backed company collapsed into administration after the twin brothers who founded the debt collection business fell out with one another.
QIC coy on Thames Water stake as utility drowns in debt
The state-backed asset manager has not marked down its valuation of the embattled London investment, despite its largest shareholder writing it off entirely.
This must be one of the worst ways of making a return
There’s a dollar to be made lending to people with “impaired credit” while running a debt collection firm. Just ask Brookfield, which is all over this business.
Labor reveals personal bankruptcy overhaul
The threshold for involuntary bankruptcy will rise to $20,000 and Attorney-General Mark Dreyfus will also launch consultations for a mini-bankruptcy regime.
June 2024
PwC appointed VA at parent company of Brookfield-backed Panthera
Panthera’s parent entity’s shares are controlled by the administrator, who may be seeking a buyer.
‘Deeply offensive’: ATO boss slams robo-debt comparison
New Tax Commissioner Rob Heferen was forceful in his first appearance before Parliament, rejecting criticism of a Tax Office program to chase small debts.
Challenger, Revolution storm Pioneer Credit’s $300m refinance
Sources said Pioneer and Nomura had found enough demand to upsize the growth facility to haul the total from $245 million to about $300 million.
April 2024
Mark Casey-backed debt recovery fintech plots path to the Nasdaq
Having launched in all 50 US states and in Canada, Remitter has signed on a range of enterprise clients including Bank of America, Citizens Bank and Hyundai.
More than 50,000 taxpayers are ghosting the ATO
Many have Tax Office debts of more than $100,000 that are older than 90 days, and they collectively owe about $15 billion. But they aren’t returning its calls.
January 2024
PwC’s corporate restructuring team called in at Panthera Finance
Street Talk can reveal a crack team of accountants has landed at the debt collection outfit to clean house.
Investors monitor Panthera Finance amid reg troubles
Sources said while Grant Samuel wasn’t officially engaged, it had kept close to the founders after running a debt refinancing process in 2022.