Andrew Lockhart, Managing Partner from Metrics Credit Partners shares insights on private debt with James Marlay from Livewire Markets.

In June 2013, a group of former-NAB executives built upon their lengthy careers in banking to open the doors to a new boutique investment firm. Following the GFC, the Managing Partners identified a trend that would see Australia’s major banks scale back their direct lending to certain sectors of the corporate loan market, creating an opportunity for a new breed of private lenders to step in.

That firm is Metrics Credit Partners, which started with a single investor with $75 million to get the firm rolling. Under Managing Partners Andrew Lockhart, Justin Hynes, Graham McNamara, and Andrew Tremain, Metrics has established itself to become the largest non-bank lender in Australia.

Ten years on, Metrics now has more than $13 billion in funds under management. So how did they do it? For one, Private Debt has become more recognised as an asset class, and exchange traded products as an access vehicle have continued to be popular. These two trends were identified by analysis from Rainmaker Information based on fund flow data for FY22.