It won’t be long before we see more cockroaches scurrying into sight because Australia’s $250 billion private credit sector is clearly still littered with poor disclosure and fee practices, related-party issues and unnecessary complexity in operating models.
It was JPMorgan chief executive Jamie Dimon who infamously warned a year ago that more cockroaches would emerge from the private-credit sector’s kitchen, after the fallout from the respective collapses of subprime auto lender Tricolor and auto supplier First Brands.
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