In this edition Paul Nagy contends that the strongest private credit portfolios are built around genuinely different sources of repayment, collateral, and economic drivers. “In our view, diversification is not about owning more investments but owning investments that are likely to succeed or fail for different reasons. The portfolio construction decisions that matter most during periods of stress are often made years before the stress arrives.”
The governance, valuation and transparency framework behind our private credit funds, and the standards we hold ourselves to. Click here to download the full report.
Not all collateral risks are created equal. In this edition Mick Wright-Smith unpacks why enterprise value – grounded in real M&A transactions and resilient cash flows – can be just as robust as property security, particularly for investors seeking diversified income beyond a single bet on real estate cycles.
In this edition Paul Nagy explores why corporate direct lending has emerged as one of the largest and most popular private credit strategies globally. "True direct lending is about origination, negotiation, and relationship-driven financing, where skilled lenders can create high-conviction portfolios with strong downside protection - not just passively track credit beta through broadly syndicated deals."
In this edition, David Elms explores the practical tools used in in private credit loan valuations, along with a hypothetical case study. "The most useful results come from tailoring the approach to the borrower’s specific characteristics, the nature of the collateral, and the tenor of the loan."
In this edition, Mick Wright-Smith explores the evolution of valuations in private credit and Australia’s path to best practice. "Unlike public markets, where daily trading provides real-time price signals, private credit valuations rely on structured internal processes, assumptions, and judgement."
