Press Release
21 May 2025
Joe Millward Appointed Chair of the Australian Chapter of Alternative Credit Council (ACC), an Affiliate of The Alternative Investment Management Association (AIMA).
The Alternative Credit Council (ACC), an affiliate of The Alternative Investment Management Association (AIMA), a global body representing private credit managers, is pleased to announce the appointment of Joe Millward as its new Chair of the chapter in Australia.
In his new role as Chair, Mr. Millward will help drive ACC’s strategic initiatives to promote the private credit industry locally while advocating for advantageous policy, education, research and investor interaction. Most notably, the growth of the industry through strengthening the sector’s sustainability and wider economic and financial benefits.
As noted in ACC’s recent Australia Private Credit Introductory Guide, “The continued growth in capital allocation to private credit has helped cement its position as a dependable source of long-term financing for companies of all sizes. As the asset class has grown it has gained more recognition in the corporate sector, with fund managers evolving their strategies to include additional types of borrower and expand their product offerings. The main beneficiaries of this trend are Australian businesses, who now have greater choice when seeking finance, and Australian investors who now have more opportunities to enhance the resilience of their portfoliosi.”
Joe Millward, Co-Founder of Epsilon Direct Lending said, “It is an honour to become Chair of the ACC chapter in Australia. I look forward to working on behalf of our members to support the sustainable development and growth of the private credit sector. The industry is enjoying significant attention, and we look forward to positive engagement with all stakeholders.”
Dr. Alistair Rew, Chair of AIMA Australia added “-Joe has been a major contributor to the ACC since its inception here in Australia and will seamlessly move into the role as chair after being a long term committee member, we look forward welcoming him onto the Australian Executive Committee in line with the role as chair of the ACC committee”
About Joe Millward
Joe is a Founding Partner of Epsilon Direct Lending and member of the Investment Committee. Joe has 26 years’ experience, in a career covering direct lending funds management, corporate and investment banking, strategy and operations across Europe
and Australia. Joe was previously the head of a Eur3bn private credit funds management business in London and successfully managed that portfolio through the GFC. During his time leading the private credit business which comprised three CLOs and one managed account, Joe originated and executed, traded and restructured hundreds of loans throughout Europe. He built a publicly available ratings agency track record which demonstrated CLO investor capital was repaid at par, despite the significant impact of the GFC across the European loan markets.
Since moving to Australia in 2011, Joe has been Chief Operating Officer of the Corporate & Investment Banking Division at Bank of America Merrill Lynch Australia and most recently was an Executive Manager in CBA’s corporate bank, responsible for both strategy development and execution, and also oversight of its A$25bn+ general corporate credit portfolio. Joe is a fully qualified accountant and fellow member of the ACCA.
About ACC
The Alternative Credit Council (ACC) is a global body that represents asset management firms in the private credit and direct lending space. It currently represents 250 members that manage over US$2 trillion of private credit assets.
The ACC is an affiliate of AIMA and is governed by its own board which ultimately reports to the AIMA Council.
ACC members provide an important source of funding to the economy. They provide finance to mid-market corporates, SMEs, commercial and residential real estate developments, infrastructure as well the trade and receivables business.
The ACC’s core objectives are to provide guidance on policy and regulatory matters, support wider advocacy and educational efforts and generate industry research with the view to strengthening the sector's sustainability and wider economic and financial benefits.
Alternative credit, private debt or direct lending funds have grown substantially in recent years and are becoming a key segment of the asset management industry. The ACC seeks to explain the value of private credit by highlighting the sector's wider economic and financial stability benefits.
About AIMA
AIMA is the world’s largest membership association for alternative investment managers. Its membership has more firms, managing more assets than any other industry body, and through our 10 offices located around the world, we serve over 2,000 members in 60 different countries.
AIMA’s mission, which includes that of its private credit affiliate, the Alternative Credit Council (ACC), is to ensure that our industry of hedge funds, private market funds and digital asset funds is always best positioned for success. Success in our industry is defined by its contribution to capital formation, economic growth, and positive outcomes for investors while being able to operate efficiently within appropriate and proportionate regulatory frameworks.
AIMA’s many peer groups, events, educational sessions, and publications, available exclusively to members, enable firms to actively refine their business practices, policies, and processes to secure their place in that success.
For further inquiries: Michael Gallagher
Contact: Mgallagher@aima.org
Website: www.aima.org
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