Asset Backed Finance

Authored by Sunny Xu (Investment Analyst) A flexible lender can be the difference between growth and gridlock For growing non-bank lenders, access to scalable, flexible capital can be one of the keys to unlocking growth. While traditional warehouse facilities are appropriate for established finance companies, they can often be too rigid, complex, or costly for […]

Stepping into Private Credit Authored by Ethan Zhu (Investment Analyst) and Sunny Xu (Investment Analyst). Over twelve months ago, we made the move into private credit – both drawn by the opportunity to work in a fast-growing part of the financial industry. While we came from different backgrounds, we were both curious about what it […]

Key Considerations for Borrowers The private credit market in Australia has experienced significant growth and is becoming an increasingly important part of the financial landscape. Private credit now accounts for approximately 11% of business lending in Australia, according to recent Reserve Bank of Australia data. However, this market share is still considerably lower than in […]

Since May 2022, with rising interest rates and increased concerns about the outlook for the economy, equity market support for fintech and non-bank financial institutions (“NBFIs”) has dramatically declined. In Australia, listed NBFIs have gone from being valued richly on multiples of revenue to trade in some instances at less than their tangible net asset […]

Realizing transformative business opportunities often requires additional capital and navigating significant complexity. In Australia’s middle market, despite a well-established private equity ecosystem, the availability of debt capital to support transformational initiatives remains limited and restrictive. Both traditional banks and non-bank lenders face constraints, particularly within the $10 million to $50 million range, especially if property […]