Direct Lending
Directly originated senior and unitranche loans to established mid-market borrowers.
Strategies / Credit
Overview
Our direct lending strategy originates and holds senior secured loans to profitable mid-market companies, providing borrowers with certainty of execution and a single, long-term lending relationship.
As a bilateral lender we control documentation, covenants and pricing rather than accepting syndicated market terms, which allows us to lend against cash flows we understand and structure protections that matter.
The objective is contractual, cash-yielding return with downside protection — income first, capital preservation always.
Senior
Position in capital structure
Floating
Rate profile
3–5 yrs
Typical tenor
What We Look For
- Senior secured, unitranche and second lien facilities
- EBITDA of A$5m and above, sponsor-backed or founder-owned
- Acquisition finance, refinancings and growth capital
- Floating rate, covenanted, first-lien security packages
Our Approach
Underwriting
Cash flow led, stress tested through downside and severe-downside scenarios.
Structuring
Maintenance covenants, information rights and amortisation matched to the business.
Portfolio management
Active monitoring with monthly reporting and early-warning triggers.
Diversification
Position limits by borrower, sector and vintage.