Private Credit covers a range of different lending activities (direct lending; distressed credit; mezzanine debt; opportunistic credit; real estate; real estate and infrastructure credit).

This note focuses on direct lending to middle-market corporates, an area of investing which is new to many Australian investors whose portfolios, if they’ve included direct lending at all, have typically been exposed to mortgages or property-related debt. Private Credit is going to become a mainstay of Australian Investors’ portfolios, middle-market loans in particular, and this note focuses on the risks and returns of this segment of the Private Credit markets.

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