Henry Holm

speaker

287 appearances 1 recordings 1 series first heard Apr 2026 last heard 30 Apr

Henry Holm’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Apr 2026 with 1.

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Equity Mates Investing Podcast · The How’s and Why’s of Private Credit with Henry Holm · 30 Apr 2026 podcast

So that's created an environment where it's not a flash in the pan.

There's a structural reason for it to be there.

And we think that private credit in Australia particularly is not just here to stay.

It's probably here to grow.

If you look at the US market, private credit, depending on how you measure it, is representing about 50% of that lending market.

Here, it's less than 10%.

We think that trend is probably going to continue and banks will retreat from mid-market banking and private credit is a pretty likely candidate to fill that gap.

There's also the type of loans that private credit and non-bank lenders will touch.

So if you sort of go back in time and pre-GFC, you often had participants like mortgage trusts or solicitors, mortgage funds, they were making pretty simple loans.

They might be lending against land.

They might be lending against stabilised assets.

commercial or residential assets, so finished products effectively.

Now we see private credit really specialising in construction finance, and it's a really big part of the market for private credit and what private credit will invest in here in Australia.

That's got its own complexity.

There are more moving parts, and by moving parts, I mean it requires more active management.

You've got builder risks to think about.

You've got liquidity risks to manage.

We're also seeing private credit get into larger loans.

Now there's been a trend amongst managers to fund bigger and bigger projects, to make bigger and bigger loans.

That's been partly enabled by the investor support for the sector.

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