This Month
The elusive illiquidity premium forces private assets rethink
The guiding principle that has guided billions of dollars of institutional capital into private assets might not actually exist. That’s led to soul-searching.
Blue Owl co-founder says private credit has itself to blame for crisis
Doug Ostrover, now the $400 billion firm’s co-chief executive, says enormous demand for big returns is still driving investors towards the sector.
How the Australian bond market became a hedge fund haven
Australia has the highest bond rates in the developed world and a central bank battling to slay inflation. It’s a great set up for traders.
Households can handle global shocks, interest rate pain, says RBA
The central bank’s health check shows households are 15 months ahead on payments, giving the RBA room to lift the cash rate to a 15-year high.
Lineball RBA call does little to dissuade market of sky-high rate bet
Investors and economists say a “rate hike hat trick” is in play after Tuesday’s decision, with traders pricing in 50 per cent chance of another increase in May.
APRA proposes massive lending shake-up to jump-start productivity
While the prudential regulator will make it less costly to lend to some types of borrowers, it is also tightening liquidity rules and warning of global risks.
Perpetual’s $500m wealth sale ends years of deal disruption
The company’s CEO, Bernard Reilly, can now focus on turning around the struggling asset management business after completing the $500m sale of its wealth unit.
NextDC’s Craig Scroggie is geared for growth and going for broke
The data centre operator is rated a buy by every analyst who covers it, but hedge funds are reloading their short bets. The tension is around funding.
Souring global private credit sentiment threatens to hit ASX funds
A crisis of confidence overseas has already led to a scramble for withdrawals from major investment houses such as Morgan Stanley, Blue Owl and Cliffwater.
Getting ahead of super’s future liquidity challenge
Australia’s $4.5 trillion super system is unique. Our savings are locked up for our working lives but free to move around on 72 hours’ notice. Is that a good thing?
AustralianSuper calls for end to 30-year ban on super fund borrowing
In a proposal that has split the sector, the big fund wants to be able to issue bonds and debt instruments to boost investment power in times of crisis.
Fear and emotion take control as energy panic grips trading floors
Stress levels were already elevated as investors returned to their desks after the weekend. Then came the biggest surge in the oil price in almost four decades.
Iran war wipes $110b from super savings as stocks slump, oil jumps
Growing fears that the Middle East conflict will drag on sent global markets into steep declines, with worries that inflation will lead to higher rates.
5 questions every private credit investor needs to think about now
There’s a major crisis of confidence in the asset class that could soon engulf Australia. Before it does, we need to do some major soul-searching.
Magellan merger delivers billion-dollar bonanza for Barrenjoey staff
Since the merger was announced, Magellan’s shares have risen by more than 33 per cent, lifting the paper wealth of Barrenjoey’s 463 staff to over $1 billion.
How an ASX-listed debt collector got its bondholders to cut its rates
When Pioneer approached bondholders to lower the attractive rate they were getting on their bonds, opinions were split.
One of the world’s debt champions is calling time on private credit
Oaktree’s Howard Marks says returns are ordinary, and lending standards are sliding as the fear of investing is replaced by the fear of missing out.
Australian credit fund reveals $80m exposure to collapsed UK lender
Realm, a Melbourne-based firm with a $10 billion book, is among the financiers of a failed British property lender that is now facing allegations of fraud.
Barrenjoey boomerangs back to Magellan in the hope of Macquarie 2.0
The homegrown investment advisory shop’s debut was the worst-kept secret in the market. Its merger with its funds management backer was kept well under wraps.
Magellan’s merger with Barrenjoey to create a $1.6b Macquarie rival
The fund manager is raising money from institutions after announcing a surprise tie-up with the home-grown investment bank, which puts a value on it.
