The How’s and Why’s of Private Credit with Henry Holm
Equity Mates Investing Podcast
Banks versus private credit
Henry explains why banks avoid mid-market, high-touch lending and how direct origination builds borrower trust.
Private credit has gone from niche to one of the fastest-growing parts of investing, but most people still don’t fully understand how it works, why borrowers use it, or where the risks sit.
In this episode, Bryce and Alec sit down with Balmain’s Henry Holm to unpack the private credit boom in Australia, why banks have stepped back, how non-bank lenders create value, and what investors should look for before backing a manager.
If you are interested in finding out more about how to Borrow or Invest with Balmain, then please visit balmain.com.au/equitymates.
In this episode:
00:00 — Why private credit is having a moment
01:24 — Henry Holm’s first investment lesson
02:25 — Why private credit exists
03:32 — How the Australian market has changed since the GFC
08:45 — A real-world private credit deal in Sydney
12:28 — Bank competition, underwriting risk, and red flags
17:30 — US private credit stress vs Australia’s market
22:59 — How to assess a private credit manager
26:56 — Red flags investors should watch for
28:06 — Best deal & best company you’ve ever discovered
29:47 — Investing resources and reading list
30:49 — Advice for young investors
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In the spirit of reconciliation, Equity Mates Media and the hosts of Equity Mates Investing acknowledge the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respects to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander people today.
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