Private credit opportunities continue to expand Down Under for both investors and brokers.
Recent developments include Australian private credit asset manager GCI Funds, which has closed its $125 million Strategic Capital Fund 2. The raise highlights the ongoing growth of Australia’s private credit sector while creating additional opportunities for commercial brokers in the mid-market.
GCI's fundraise follows the full deployment of the firm’s Strategic Capital Fund 1, and signals strong borrower demand alongside growing investor appetite for private credit strategies.
“Our origination activity continues to attract a wide range of situations where high-quality businesses and entrepreneurial founders require capital that is more flexible and responsive than mainstream funding sources," said Hugh Selleck, managing director of strategic capital at the firm.
Commercial brokers who understand private credit strategies stand to benefit. Australia’s expanding private credit market is generating a broader range of funding options, with increasing reliance on non-bank lenders and private credit asset managers as traditional banks tighten lending standards and reduce risk appetite. Deals involving complex ownership structures, fast turnaround requirements and non-standard collateral are increasingly being funded by private lenders rather than major banks.
"Australia’s private credit market is expanding rapidly and becoming more institutionalised. As that evolution continues, brokers will need to shift from purely transactional thinking toward a more structural approach to deals," Kiro Georgy, chief executive officer of Sydney-based private lender Greenlink Capital, told Australian Broker. "Capital is increasingly allocated based on execution certainty, downside protection and governance rather than simply speed of funding. Brokers who understand how institutional capital assesses risk, structures transactions and protects capital will be best positioned to capitalize on the opportunities emerging in private credit."
Australian private credit is estimated to be worth roughly $200 to $224 billion in assets under management as of late 2025, according to some market estimates, up from $188 billion at the end of 2023. While still modest in comparison to the global private credit market, (estimated at roughly $1.5 trillion to $2 trillion USD), the figures indicate continued growth in Australia’s private credit sector.
Georgy added that: "Institutionally aligned lenders tend to prioritise strong structuring, disciplined documentation and clear accountability throughout the transaction. Brokers who prepare deals with those expectations in mind typically experience smoother execution and develop stronger long-term relationships with capital providers."
In terms of GCI, Fund 2 targets mid-market businesses in Australia and New Zealand, offering loans between $5 million and $50 million. The capital will support business growth, acquisitions, turnarounds and liquidity solutions for founders with capital tied up in unlisted assets. Deployment is expected over 12 to 18 months, with a subsequent vintage planned thereafter.
Since launching the fund, GCI — which was founded in 2015 by Steven Sher and Gavin Solsky — has deployed more than $420 million across 34 transactions. The firm works in asset-based finance, real estate private credit and strategic capital solutions.
