With global private credit markets dominating headlines, it’s imperative that investors cut through the noise and focus on differences that materially shape risk, liquidity, and returns across different markets. The U.S. private credit market has entered 2026 in a pronounced downturn – especially publicly traded Business Development Companies (BDCs) which are U.S listed credit vehicles. […]
What’s going on in private credit? Read More »
Non-bank lenders are offering borrowers a compelling alternative and investors a handsome premium. Australia is leading the way when it comes to the strength and quality of its major Banks on the global stage. A recent analysis by Morgan Stanley of common equity tier 1 capital, that is the highest form of regulatory banking capital
FORGET NEO-BANKS: Introducing Australia’s New Leading Lenders Read More »
Residential mortgage arrears numbers have become a popular topic for the Australian media. In the wake of the RBA’s sharp cycle of interest rates hikes, there has been no shortage of reports on the latest monthly arrears figures, often written alongside vigorous speculation about what the figures imply about the future of property prices, borrowers
Seasons in the sun: Seasonality in rising mortgage arrears Read More »
Executive Summary The Australian securitisation market has evolved significantly over the years. Once an obscure corner of debt security issuance, securitisation has become an important part of Australia’s financial fabric with a public market size of ~$160bn, compared to the combined market capitalisation of all stocks on the ASX of ~$2,300bn. Our paper outlines exactly
An introduction to securitisation Read More »
What would it take to break the Australian version of the bonds that caused the GFC… When Paramount acquired the film rights to Michael Lewis’ nonfiction financial thriller The Big Short, it is unlikely they knew the impact they would have on the public’s understanding of finance. The 2010 blockbuster of the same name used an
Why the “Big Short” doesn’t work on Australian RMBS Read More »
How can investors distinguish between fund offerings in the ever expanding universe of private credit? In Australia, private debt assets under management have grown at more than 100% per annum over the last two years[1]. This explosion in popularity has been met with an equally staggering increase in the number of private credit funds vying
Not all private credit is created equal: How to pick the winners and avoid the losers Read More »
