Australian real estate private credit is in a ‘wonderful position'
La Trobe Financial Chief Executive Chris Andrews says Australian real estate private credit is in a 'wonderful position'.
'Australian real estate private credit … is in a wonderful position,' Mr Andrews told Sky News Business Reporter Edward Boyd.
'We've seen sort of the market absorb the really high interest rate … over the last sort of four years.
'Borrowers are performing really, really strongly.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Perth Now
25 minutes ago
- Perth Now
Madrid rivals ride the same wave in SailGP move
Wall Street investment powerhouse Ares Management has sailed into partnership with Real Madrid striker Kylian Mbappe, acquiring a minority stake in the France SailGP Team - where old rivals suddenly find themselves in the same boat. The $US546 billion asset manager, which counts Atletico Madrid among its sports investments, now shares an ownership table with Mbappe's Coalition Capital in the high-speed sailing franchise, creating a curious alliance between the Spanish capital's two soccer teams. "We are thrilled to enter the league and join the France SailGP Team's existing owners group at this inflection point," said Jim Miller, Co-Lead of Ares' Sports, Media and Entertainment strategy, whose firm also holds stakes in Inter Miami and McLaren Racing. The investment coincides with SailGP revealing it will add two new national teams for its 2026 season, expanding to 14 flying catamarans that rocket across global waters at speeds approaching 100 km/h. "The investment in our French team by an organisation with a stellar portfolio underlines the strength of SailGP's global league model," said league managing director Andrew Thompson. One of the six original SailGP Teams, the French team is spearheaded by driver Quentin Delapierre who assembled a stellar crew line-up when he took over as driver in Season 2. Known for executing stellar starts and performing in wild and windy conditions, the team holds the SailGP racing speed record of 99.94 km/h set in Saint Tropez, Season 4. France are currently sixth in the standings after a recent podium finish in New York. Spain, led by Olympic champion Diego Botin, top the 2024–25 season standings with 46 points. The next race comes at the British Sail Grand Prix in Portsmouth on July 19–20. Founded in 2019 by Oracle's Larry Ellison and sailing great Russell Coutts, SailGP has rapidly evolved from centralised ownership to a franchise model that has attracted celebrities and institutional investors alike. Hollywood stars Hugh Jackman and Ryan Reynolds recently acquired the Australian team, while a consortium of sports industry leaders took control of the Italian entry. Professional services firm Deloitte will manage the selection process for the two new teams, with initial bids closing in mid-August and final decisions expected by early September.
The Age
39 minutes ago
- The Age
Close of markets: ASX slides amid concern over Middle East escalation
Loading The declines on the ASX were led by the mining giants, with iron ore heavyweights BHP dropping 1.2 per cent, Rio Tinto down by 1.1 per cent and Fortescue slumping 4 per cent. They were weighed down by a 1.2 per cent fall in prices for the steelmaking material overnight. Gold miners also declined, with Northern Star Resources and Evolution Mining losing 2.2 per cent and 3.6 per cent, respectively. Though two of the big four banks finished higher, NAB and ANZ both closed lower at 0.2 per cent and 1.4 per cent, respectively, while Westpac finished flat. CBA, the biggest stock on the ASX, staged a late comeback from the day's losses to close 0.6 per cent higher. Qantas Airways shed 1.7 per cent. The airline missed out on making it into the list of the top 10 best airlines for 2025 in a high-profile international aviation industry award. The lowdown Kerry Craig, a global market strategist at JPMorgan, said the biggest takeaway from Wednesday was that while the Australian sharemarket and other markets globally were wobbling, investors weren't seeing drastic reactions to the significant global events unfolding, including dramatic swings from the price of oil. 'Markets haven't been as pessimistic as you'd imagine given the events happening in the Middle East,' Craig said. With Iranian oil supply offset by other global producers and despite threats that the conflicts will grow, Craig says investors are viewing the risks from the conflict in Iran and Israel still as somewhat regionally confined. Loading On Wall Street overnight, the S&P 500 fell 0.8 per cent following signals that the Israel-Iran conflict may be worsening and that one of the US economy's main engines is weakening. The Dow Jones dropped 0.7 per cent, and the Nasdaq composite fell 0.9 per cent. Their declines accelerated after President Donald Trump raised the temperature on Israel's fight with Iran by calling for 'UNCONDITIONAL SURRENDER!' on his social media platform and saying, 'We are not going to' kill Iran's leader, 'at least for now.' Before that, Trump had left a Group of Seven summit early and warned that people in Iran's capital should evacuate immediately. It took only about eight hours for Trump to go from suggesting a nuclear deal with Iran remained 'achievable' to urging Tehran's 9.5 million residents to flee for their lives. The fighting has the potential to drive up prices for crude oil and petrol because Iran is a major producer of oil, and it sits on the narrow Strait of Hormuz, through which much of the world's crude passes. Past conflicts in the area have caused spikes in oil prices, though they've historically proven to be only temporary after showing that they did not disrupt the flow of oil. Loading All the action took place as the Federal Reserve began a two-day meeting on interest rates. The nearly unanimous expectation among traders and economists is that the Fed will make no move. The Fed has been hesitant to lower interest rates, and it's been on hold this year after cutting at the end of last year because it's waiting to see how much Trump's tariffs will hurt the economy and raise inflation. Inflation is near the Fed's target of 2 per cent. More important for financial markets on Wednesday will probably be the latest set of forecasts that Fed officials will publish for where they see the economy and interest rates heading in coming years. In the bond market, the yield on the 10-year Treasury eased to 4.38 per cent from 4.46 per cent late on Monday. In other international sharemarkets, indexes fell across much of Europe after finishing mixed in Asia. Tokyo's Nikkei 225 index rose 0.6 per cent after the Bank of Japan opted to keep its key interest rate unchanged. with AP, Bloomberg The Market Recap newsletter is a wrap of the day's trading. Get it each weekday afternoon.
The Age
40 minutes ago
- The Age
ASX slides amid concerns over Middle East escalation while miners decline
Welcome to your five-minute recap of the trading day. The numbers The Australian sharemarket closed lower on Wednesday yet again as investors track developments in the escalating conflict in the Middle East, with mounting speculation that the US is on the verge of joining Israel's attack on Iran. The S&P/ASX 200 slipped 10.10 points, or 0.1 per cent, to 8531.20, pushed down by the dominant mining sector, even as eight of the 11 industry sectors ended higher. The slight drop came after the local market treaded water over the past two sessions. The Australian dollar declined overnight but traded 0.5 per cent higher at US65.09¢ just before 5pm AEST. The lifters Among winners of the day were energy stocks, though some of their share prices fluctuated as much as the oil prices driving them. Oil and gas giant Woodside closed down 0.2 per cent after gaining earlier in the session, while rival Santos – which on Monday received a $30 billion takeover bid from Abu Dhabi's national oil company and US global private equity firm Carlyle – added 0.4 per cent. Ampol, the nation's biggest refiner, added 2.7 per cent and fellow fossil fuel stock Yancoal rose 2.4 per cent. Oil prices swung up and down after rallying around 10 per cent since Israel started its attacks on Iran last week as speculation the US may join the conflict stoked concerns about supply disruptions in the Middle East. Brent traded above $US76 a barrel, while West Texas Intermediate was near $US75 after closing at the highest level in almost five months on Tuesday. Uranium stocks rose for a second day after Canadian asset manager Sprott said it would buy some $US200 million ($306 million) worth of the metal for its dedicated physical uranium trust. Boss Energy climbed a further 4.3 per cent and Deep Yellow jumped 3.9 per cent. Tech stocks also advanced, with software firms WiseTech, Xero and Technology One finishing up 1.5 per cent, 1.1 per cent and 2 per cent, respectively.
