This Month
iPartners joins Bis Industries’ $110m debt refinancing
Under the deal, Carlyle and Varde has committed to injecting $50 million to $60 million to allow for a full refinancing and to leave Bis with some working capital.
The secret Ferrari fire sale while dozens are out of pocket
James Zhang lived large. Is he now about to sail off into the sunset?
KKR corrects a correction
It took KKR three tries to clear up the mess it made of its own ASX announcements.
March
Want to build trust in private credit? Look to New York
Private credit is now a $205 billion industry in Australia, but it has a transparency problem. There’s one possible solution.
Private lender Aquasia adds provisions to $541m fund over Konvoy Kegs
Konvoy Kegs is the second loss for Aquasia, and comes after it had to write off its entire $14 million loan to LawFinance, a legal financier.
Yorkway Private raises $10m for One Investment to sweep away iProsperity
One Investment Group was tangled up in one of Australia’s biggest frauds. Now, former AMP chief executive Paul Batchelor’s Yorkway Private offers a way out.
ASIC demands answers from private credit as it beefs up surveillance
ASIC has given a select group of private credit funds until mid next month to explain how they value assets, manage conflicts and look after its investors’ interests.
Merricks tips more debt into Sydney ‘Halo’ tower amid default
The private credit provider remains supportive of the project with its loan top-up to get work moving at the site, while a non-Merricks lender has issued a default.
Metrics in the middle of a private credit storm
The private credit pioneer has won support from big funds, brokers, advisers and research consultants, but its rise has divided opinions.
Private versus public markets? The debate is just heating up
The number of ASX-listed companies is falling due to fewer IPOs and more de-listings. The ratio is pretty stark, but ASIC thinks it’s too early to call this a structural trend. I think it’s perplexing not to.
SQM issues warning on private credit after uptick in bad loans
One of the largest ratings agencies said it was concerned by “questionable” practices and a lack of transparency in the non-bank lending sector.
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.
Metrics hits back at critics, says there’s plenty of money flowing in
The private credit giant held a conference call with investors after a big financial planner recommended advisers sell their funds.
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.
Private equity is taking a public market beating
Gyrations on listed equities have delivered a double blow for PE. But one billionaire investor sees change coming.
Private lender Rixon Capital courts investors for new fund
Rixon is said to be confident it can hit the $500 million mark in the next three to five years.
Seven dilemmas after a year of investing dangerously
Last year it was hard not to feel pretty good about the market. This year it’s been a bloodbath. This is what I’m asking myself after a wobbly first quarter.
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?
The growing problem facing Australia’s ‘broken’ housing market
Private credit has backed housing development as banks retreated, but new and smaller players are taking on projects that may never be finished, says a report.
Konvoy Kegs shuffles deckchairs as FTI Consulting lands
FTI will spend this week reviewing Konvoy’s capital structure, amid a liquidity crisis created on March 6 when private credit player AquAsia walked.