Woodbridge Capital is stepping up its national expansion, adding two new hires as it scales its private credit platform.
The Melbourne-based firm has hired Terence Lapsanas as investment director, and Curtis Tsang as associate director, investments. The duo, both of whom come from Deloitte, report directly to the investment team. They have been tasked with strengthening the loan management function of the business as it scales operations across Australia, as well as New Zealand.
"These appointments are a natural extension of what we have already been building," Andrew Torrington, co-founder, chief investment officer and managing director of Woodbridge, told Australian Broker. "Strengthening the investment team is not a signal of something new; it’s us making sure our people match our ambition. Active loan management is central to how we operate. And as we grow nationally, we need to scale that capability without compromising our standards."
The expanded team follows a growth period for the boutique private credit investment manager and non-bank lender, which was founded in 2021 by Torrington and Matthew Samuels. Woodbridge is accelerating its national footprint, after having opened a new Sydney office last spring, and now targeting further expansion in Queensland, thanks to increased demand for private credit across the country.
"The gap between what the major banks are willing to fund and what developers and borrowers actually need continues to create meaningful opportunity for disciplined non-bank lenders," Torrington said.
In fact, Australia's private credit markets, once a niche player in the overall lending landscape, is now 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 as traditional banks tighten lending standards and reduce risk appetite.
Commercial brokers who understand private credit strategies stand to benefit, as deals involving complex ownership structures, fast turnaround requirements and non-standard collateral are increasingly being funded by private lenders.
At Woodbridge, Torrington declined to comment on which sectors are seeing the most traction amid the growing private markets. However, he said: "We are selective by design, and that does not change regardless of market conditions."
Samuels, co-founder and executive director of investments at Woodbridge, said the addition of Lapsanas and Tsang reinforces the firm’s focus on responsible lending and best practices in private credit, particularly in the wake of the November 2025 Australian Securities and Investments Commission (ASIC) review, which raised concerns around investor risk and transparency. The report, which examined Australia’s fast-growing private credit market, identified widespread issues, including poor disclosure, opaque fees, conflicts of interest and weak governance standards.
"Private credit is evolving rapidly, and with that comes a responsibility to lead by example," Samuels said. "We view the recent ASIC review as not a finish line, but the starting point for the evolution of private credit. Private credit is growing as an asset class, and we want to lead the charge on transparency and good stewardship of capital.
"For Woodbridge, that means setting the benchmark for transparency, governance and hands-on asset management across every loan in our portfolio," he added. "Our model is built on clarity and accountability. Investors can see how capital is deployed and managed, and borrowers know they have a partner who is engaged throughout the life of a project. Terence and Curtis bring the expertise and mindset that support this philosophy.
"Active loan management is not something we talk about; it’s something we do every day,” Samuels continued. “As we continue to grow nationally, it’s critical that we scale our investment team in a way that preserves the discipline, transparency and rigour that define our approach."
