GLOBAL INVESTMENT INSIGHTS

“This is an asset pickers’ market – it is not a market where you want to own beta. We are going to see significant divergence in how managers perform. The current environment is characterised by slower deal activity, and this will put pressure on large pools of capital.”

- Robin Doumar is the Founder and Managing Partner at Park Square, where he has been responsible for leading the firm since its inception in 2004. He also serves as Chair of both the Investment Committee and the Executive Committee. In this article, Robin shares his views on current dynamics playing out in private credit and what investors should be thinking about in pursuit of desired goals.

Robin will be presenting at Global Investment Institute’s upcoming Private Credit Investment Forum, taking place on Thursday, 8 May 2025 at the Grand Hyatt Melbourne, Victoria. To register your interest in attending, click here or for more information email zlatan@globalii.com.au.

April 2025

Current featured job vacancies and opportunities include roles at AustralianSuper, Aware Super, Blackwattle Investment Partners, CareSuper, Challenger, E&P Financial Group, Hostplus, Mercer, Northern Trust Asset Management, NZ Super Fund, Octopus Australia, Queensland Treasury Corporation, Shaw and Partners, and UniSuper.

If you would like us to promote a job vacancy at your organisation for executive and senior investment roles, please email Nicole Browne, Global Investment Institute.

“CLO debt tranches can be very attractive to add in periods of dislocation. They offer price convexity whilst allowing investors to hide from defaults. In the current environment they also offer high cashflow as they pay wide spreads over base rates.”

- Cathy Bevan is the Head of Structured Credit at BSP-Alcentra, where she works in a team of eight professionals, including herself, a co-portfolio manager and six experienced structured credit analysts, who are focused on investing in 3rd party issued CLO tranches. They run one global CLO tranche investment team, without geographic silos, that covers the entire market, AAA to Equity and warehouses, primary and secondary, due to the interlinked nature of the CLO market.

Cathy will be presenting at Global Investment Institute’s upcoming Private Credit Investment Forum, taking place on Thursday, 8 May 2025 at the Grand Hyatt Melbourne, Victoria. To register your interest in attending, click here or for more information email zlatan@globalii.com.au.

“ABF helps to diversify portfolios away from corporate risk and provides strong downside protection through underlying asset collateralisation.Low-correlation ABF is less influenced by macro, market and geopolitical shocks.”  

- David Ross is the Managing Director and Head of Private Credit at Northleaf Capital Partners where he is responsible for leading Northleaf’s global private credit platform across corporate direct lending and asset-based finance (“ABF”), which includes open-end and closed-end funds as well as a number of custom mandates. He also serves on Northleaf’s Executive Committee, overseeing the firm’s strategy for their broader private markets platform.

David will be presenting at Global Investment Institute’s upcoming Private Credit Investment Forum, taking place on Thursday, 8 May 2025 at the Grand Hyatt Melbourne, Victoria. To register your interest in attending, click here or for more information email zlatan@globalii.com.au.

"As traditional thermal power plants exit the Australian market creating a supply gap, the lowest cost new entrant is renewables paired with storage. This is providing a significant investment opportunity into Australia’s energy future. The right energy portfolios will capitalise on market dynamics whilst managing risk through diversification.”

- Sonia Teitel is the Co-Managing Director, Renewables Australia at Octopus Australia, where she is responsible for leading their team of renewable energy experts that span investment, development, energy markets, asset management and engineering. The team is responsible for end-to-end delivery of renewables assets including long term operations, to deliver Octopus Australia’s renewable energy strategy. 

Sonia will be presenting at Global Investment Institute’s upcoming Family Office Investment Forum, taking place on Wednesday, 7 May 2025 at the Grand Hyatt Melbourne, Victoria. To register your interest in attending, click here or for more information email zlatan@globalii.com.au.

"The recent rethink on equities has led many investors to seek safer ground and reassess portfolio allocations. Historically, fixed income has proven its value as a defensive asset, offering stability and income when equities falter. However, not all credit is created equal. With bond yields elevated, investment-grade credit offers a compelling opportunity for investors seeking to mitigate risk while capturing higher income. For those comparing global fixed income portfolios, an Australian credit focus provides distinct advantages.”

- Phil Strano is the Head of Credit Research at Yarra Capital Management, where he is responsible for overseeing the development and implementation of investment strategies across a range of credit asset classes. His role includes providing insights into market conditions and supporting the investment team to ensure their portfolios are positioned to meet both client goals and broader economic trends. He also plays a critical role in balancing risk and return through multi-sector credit strategies, to help their clients navigate current market complexities.

Phil will be presenting at Global Investment Institute’s upcoming Family Office Investment Forum, taking place on Wednesday, 7 May 2025 at the Grand Hyatt Melbourne, Victoria. To register your interest in attending, click here or for more information email zlatan@globalii.com.au.