James Kirby

Hello, welcome to the Australian's Money Puzzle podcast.

I'm James Kirby.

Welcome aboard, everybody.

This is a show I've been looking forward to.

I'll tell you why.

I am as curious as you are, I imagine, about what is happening around the world and in Australia in relation to private credit.

Private credit, this is this business which has been promising investors it would replace banks, that it would give us an alternative stream of income

that would be a useful alternative lucrative for years.

And advisors, of course, telling us that, you know, if you're not on board, you're going to miss out.

Well, you may have already heard there's quite dramatic issues, problems emerging with private credit.

It's captured most perfectly in the 50% share price slide of a group called Blue Owl, the giant US private wealth empire.

Now,

We are reporting in The Australian that some groups, Coda Capital, one of the top private wealth managers, has $220 million linked with Blue Owl.

One of the super funds, NGS Super, sort of a mid-sized industry super fund, has another $200 million in interests connected with the fund.

Now, look, I'm an active investor, folks, so no way do I wish to close you off from private credit, but equally, I don't want you to be led astray.

My guest today is Andy Darroch of Independent Wealth Advice.

He's been on the show before.

He's particularly across and articulate on the issue of private credit, something perhaps of a thorn in their side sometimes.

How are you, Andy?

Very well.