Rixon Capital ads

We just hosted our very first 𝗥𝗶𝘅𝗼𝗻 𝗖𝗮𝗽𝗶𝘁𝗮𝗹 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝘆 𝗗𝗮𝘆 — a meaningful milestone as we step into our 4th year as a fund manager. The morning brought honest conversations and a shared commitment to building a firm that blends disciplined private credit underwriting with an ethos that recognises our success hinges upon respecting our investors. A huge thanks to James Rutherford of Rutherford Human Resources — friend, former CrossFit partner, and exceptional facilitator — for guiding us through a great day. We wrapped with a team lunch to celebrate how far we’ve come and to toast the ambitious years ahead. Moments like these remind us that great strategy starts with great people. 𝗛𝗲𝗿𝗲’𝘀 𝘁𝗼 𝗬𝗲𝗮𝗿 𝟰 — 𝗼𝗻𝘄𝗮𝗿𝗱𝘀! Financial Advice Association Australia (FAAA) | Financial Standard | The Australian Financial Review | The Australian | ausbiz | Capital Brief | ION Analytics | Debtwire | Livewire Markets | InvestorDaily Blair Murphy | Dallin Howes | Luke Howes | Patrick Prasad William | Daniel Neilson | Shrikaanth B, CFA | Hessan Shah | John-Paul Roberts | Alan Butterfield | Justin Roberts

𝗧𝗵𝗲 𝗚𝗿𝗲𝗮𝘁 𝗣𝗿𝗶𝘃𝗮𝘁𝗲 𝗖𝗿𝗲𝗱𝗶𝘁 𝗣𝗮𝗻𝗶𝗰 | The bearish narrative is largely a US story. ausbiz' Nadine Blayney & Patrick Prasad William unpack what actually matters for Australian private credit investors. 𝗨𝗦 𝘃𝘀 𝗔𝗨 | 𝗟𝗲𝗴𝗮𝗹 𝗳𝗿𝗮𝗺𝗲𝘄𝗼𝗿𝗸𝘀 𝗱𝗶𝘃𝗲𝗿𝗴𝗲 𝘀𝗵𝗮𝗿𝗽𝗹𝘆 𝘜𝘚 𝘊𝘩𝘢𝘱𝘵𝘦𝘳 11 𝘱𝘳𝘰𝘵𝘦𝘤𝘵𝘴 𝘣𝘰𝘳𝘳𝘰𝘸𝘦𝘳𝘴 - When deals sour, US managers have little recourse 𝘈𝘶𝘴𝘵𝘳𝘢𝘭𝘪𝘢𝘯 𝘤𝘰𝘳𝘱𝘰𝘳𝘢𝘵𝘦 𝘭𝘢𝘸 𝘱𝘳𝘰𝘵𝘦𝘤𝘵𝘴 𝘭𝘦𝘯𝘥𝘦𝘳𝘴 - Enforcement rights clearer and stronger 𝗨𝗦 𝘃𝘀 𝗔𝗨 | 𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗱𝘆𝗻𝗮𝗺𝗶𝗰𝘀 𝗮𝗿𝗲 𝗼𝗽𝗽𝗼𝘀𝗶𝘁𝗲 𝘜𝘚: Intense competition --> funds offer aggressive terms 𝘈𝘶𝘴𝘵𝘳𝘢𝘭𝘪𝘢: Supply of credit is still nascent --> lenders dictate terms 𝗪𝗵𝗮𝘁 𝗮𝗯𝗼𝘂𝘁 𝗮𝗹𝗹 𝘁𝗵𝗲 𝗻𝗼𝗶𝘀𝗲 𝗶𝗻 𝘁𝗵𝗲 𝗽𝗿𝗲𝘀𝘀 𝗮𝗯𝗼𝘂𝘁 𝗽𝗿𝗶𝘃𝗮𝘁𝗲 𝗰𝗿𝗲𝗱𝗶𝘁 𝗹𝗼𝘀𝘀𝗲𝘀? Always read the full article - they are overwhelmingly about the US where: - A slowing economy is impacting overleveraged, cyclical borrowers - Aggressive capital deployment pushed due diligence standards lower ...𝗮𝗻𝗱 𝗶𝗻 𝗔𝘂𝘀𝘁𝗿𝗮𝗹𝗶𝗮 - 𝘚𝘩𝘪𝘦𝘭𝘥: Not private credit + fraud (alleged) - 𝘍𝘪𝘳𝘴𝘵 𝘎𝘶𝘢𝘳𝘥𝘪𝘢𝘯: Not private credit + fraud (alleged) - 𝘗𝘶𝘣𝘭𝘪𝘤 𝘏𝘰𝘴𝘱𝘪𝘵𝘢𝘭𝘪𝘵𝘺 𝘎𝘳𝘰𝘶𝘱: High risk construction loans + fraud (alleged) Beyond ASIC (and industry) calling for more transparency — which is healthy and overdue — the Australian private credit landscape remains fundamentally sound. 🏰 The video can be accessed here: https://lnkd.in/g882GWWr #ausbiz | Financial Standard | The Australian Financial Review | The Australian | Capital Brief | ION Analytics | Debtwire | InvestorDaily | Livewire Markets | Financial Advice Association Australia (FAAA) | Rampart InvestmentMarkets Blair Murphy | Dallin Howes | Luke Howes | Daniel Neilson | Shrikaanth B, CFA | Hessan Shah | John-Paul Roberts | Alan Butterfield | Justin Roberts

Please join the InvestmentMarkets' 2025 Webinar Series to hear a 10-minute presentation from our MD on "𝗧𝗵𝗲 𝗔𝗦𝗜𝗖 𝗣𝗿𝗶𝘃𝗮𝘁𝗲 𝗖𝗿𝗲𝗱𝗶𝘁 𝗥𝗲𝘃𝗶𝗲𝘄 | 𝗪𝗵𝘆 𝗜𝘁 𝗠𝗮𝘁𝘁𝗲𝗿𝘀 𝘁𝗼 𝗜𝗻𝘃𝗲𝘀𝘁𝗼𝗿𝘀?" The presentation provides illustrative case studies of how the key focus areas can 📉 impact investors if not addressed. Register to attend here: https://lnkd.in/g8B57mad Our appreciation to the InvestmentMarkets' team for the opportunity to collaborate: Darren Connolly, Krista Ritchie, and Brittany Swanson. Financial Advice Association Australia (FAAA) | Financial Standard | The Australian Financial Review | The Australian | ausbiz | Capital Brief | ION Analytics | Debtwire | Livewire Markets | InvestorDaily Blair Murphy | Dallin Howes | Luke Howes | Patrick Prasad William | Daniel Neilson | Shrikaanth B, CFA | Hessan Shah | John-Paul Roberts | Alan Butterfield | Justin Roberts

Rixon Capital is pleased to announce the provision of a $20,000,000 asset-backed wholesale funding facility to specialist agricultural funder DelayPay DelayPay is a leading provider of BNPL in the Australian agricultural sector. Rixon Capital execution team Team: Daniel Neilson, Shrikaanth B, CFA, John-Paul Roberts Investment Committee: Alan Butterfield, Blair Murphy, Justin Roberts Legal Counsel: Kenneth Tang and Lisa Xia of Gadens Borrower team Team: Anton Phillips-Chantelois, Dwain Duxson, Kelsey Miller Legal Counsel: David Kreltszheim at Cornwalls Rixon Capital is the investment manager of the Rixon Income Fund, an asset-backed lender focused on Australian SMEs seeking non-dilutionary loans of up to $20.0 million. https://lnkd.in/g5-MJQnM Financial Advice Association Australia (FAAA) | Financial Standard | The Australian Financial Review | The Australian | ausbiz | Capital Brief | ION Analytics | Debtwire | Livewire Markets | InvestorDaily Blair Murphy | Dallin Howes | Luke Howes | Patrick Prasad William | Daniel Neilson | Shrikaanth B, CFA | Hessan Shah | John-Paul Roberts | Alan Butterfield | Justin Roberts

Jonathan Shapiro, James Eyers, and Lucas Baird's recent piece in The Australian Financial Review highlights important areas for improvement in a 𝘀𝘂𝗯𝘀𝗲𝘁 𝗼𝗳 𝗳𝘂𝗻𝗱𝘀 in the Australian private credit market. While disappointing some managers skirt best practice, blanket criticism of the sector is potentially misleading given a substantial proportion of risk accrues specifically to the property development lending space - refer ASIC's own report from September 2025. 𝘍𝘶𝘯𝘥𝘴 𝘵𝘢𝘳𝘨𝘦𝘵𝘪𝘯𝘨 𝘩𝘪𝘨𝘩𝘦𝘳-𝘳𝘪𝘴𝘬 𝘳𝘦𝘢𝘭 𝘦𝘴𝘵𝘢𝘵𝘦 𝘤𝘰𝘯𝘴𝘵𝘳𝘶𝘤𝘵𝘪𝘰𝘯 𝘢𝘯𝘥 𝘥𝘦𝘷𝘦𝘭𝘰𝘱𝘮𝘦𝘯𝘵 𝘧𝘪𝘯𝘢𝘯𝘤𝘦 𝘭𝘪𝘬𝘦𝘭𝘺 𝘳𝘦𝘱𝘳𝘦𝘴𝘦𝘯𝘵 𝘵𝘩𝘦 𝘨𝘳𝘦𝘢𝘵𝘦𝘴𝘵 𝘱𝘳𝘪𝘰𝘳𝘪𝘵𝘺 𝘧𝘰𝘳 𝘢𝘥𝘥𝘳𝘦𝘴𝘴𝘪𝘯𝘨 𝘱𝘰𝘵𝘦𝘯𝘵𝘪𝘢𝘭 𝘤𝘰𝘯𝘧𝘭𝘪𝘤𝘵𝘴 𝘰𝘧 𝘪𝘯𝘵𝘦𝘳𝘦𝘴𝘵 𝘢𝘯𝘥 𝘪𝘮𝘱𝘳𝘰𝘷𝘪𝘯𝘨 𝘵𝘳𝘢𝘯𝘴𝘱𝘢𝘳𝘦𝘯𝘤𝘺. 𝘐𝘯𝘷𝘦𝘴𝘵𝘰𝘳𝘴 𝘴𝘩𝘰𝘶𝘭𝘥 𝘦𝘹𝘱𝘦𝘤𝘵 𝘤𝘰𝘯𝘴𝘪𝘥𝘦𝘳𝘢𝘣𝘭𝘺 𝘩𝘪𝘨𝘩𝘦𝘳 𝘭𝘰𝘴𝘴𝘦𝘴 𝘪𝘯 𝘢𝘯 𝘦𝘤𝘰𝘯𝘰𝘮𝘪𝘤 𝘥𝘰𝘸𝘯𝘵𝘶𝘳𝘯, 𝘱𝘢𝘳𝘵𝘪𝘤𝘶𝘭𝘢𝘳𝘭𝘺 𝘪𝘯 𝘵𝘩𝘦 𝘳𝘦𝘢𝘭 𝘦𝘴𝘵𝘢𝘵𝘦 𝘤𝘰𝘯𝘴𝘵𝘳𝘶𝘤𝘵𝘪𝘰𝘯 𝘢𝘯𝘥 𝘥𝘦𝘷𝘦𝘭𝘰𝘱𝘮𝘦𝘯𝘵 𝘴𝘦𝘤𝘵𝘰𝘳. 𝘓𝘰𝘢𝘯𝘴 𝘵𝘰 𝘳𝘦𝘭𝘢𝘵𝘦𝘥 𝘱𝘢𝘳𝘵𝘺 𝘱𝘳𝘰𝘱𝘦𝘳𝘵𝘺 𝘥𝘦𝘷𝘦𝘭𝘰𝘱𝘦𝘳𝘴 𝘤𝘢𝘯 𝘤𝘳𝘦𝘢𝘵𝘦 𝘤𝘰𝘯𝘧𝘭𝘪𝘤𝘵 𝘱𝘰𝘪𝘯𝘵𝘴 𝘪𝘯 𝘳𝘦𝘭𝘢𝘵𝘪𝘰𝘯 𝘵𝘰 𝘷𝘢𝘭𝘶𝘢𝘵𝘪𝘰𝘯, 𝘧𝘦𝘦𝘴, 𝘭𝘰𝘢𝘯 𝘪𝘯𝘵𝘦𝘳𝘦𝘴𝘵 𝘳𝘢𝘵𝘦𝘴 𝘢𝘯𝘥 𝘭𝘰𝘢𝘯 𝘵𝘦𝘳𝘮𝘴. 𝘝𝘢𝘭𝘶𝘢𝘵𝘪𝘰𝘯𝘴 𝘪𝘯 𝘵𝘩𝘦 𝘤𝘰𝘯𝘴𝘵𝘳𝘶𝘤𝘵𝘪𝘰𝘯 𝘢𝘯𝘥 𝘥𝘦𝘷𝘦𝘭𝘰𝘱𝘮𝘦𝘯𝘵 𝘴𝘦𝘤𝘵𝘰𝘳 𝘤𝘢𝘯 𝘰𝘧𝘵𝘦𝘯 𝘭𝘦𝘢𝘥 𝘵𝘰 𝘤𝘰𝘯𝘧𝘶𝘴𝘪𝘰𝘯 𝘢𝘯𝘥 𝘱𝘰𝘵𝘦𝘯𝘵𝘪𝘢𝘭 𝘥𝘪𝘴𝘵𝘰𝘳𝘵𝘪𝘰𝘯, 𝘥𝘦𝘱𝘦𝘯𝘥𝘪𝘯𝘨 𝘰𝘯 𝘸𝘩𝘢𝘵 𝘮𝘦𝘢𝘴𝘶𝘳𝘦 𝘰𝘧 𝘓𝘝𝘙 𝘪𝘴 𝘶𝘴𝘦𝘥. - 𝗥𝗘𝗣 𝟴𝟭𝟰 𝗣𝗿𝗶𝘃𝗮𝘁𝗲 𝗖𝗿𝗲𝗱𝗶𝘁 𝗶𝗻 𝗔𝘂𝘀𝘁𝗿𝗮𝗹𝗶𝗮 Access the article here: https://lnkd.in/g3z6XPaf Access the ASIC report here: https://lnkd.in/gpymiXQs Financial Advice Association Australia (FAAA) | Financial Standard | The Australian | The Australian Financial Review | ausbiz | Capital Brief | ION Analytics | Debtwire | Livewire Markets | InvestorDaily | ASIC Blair Murphy | Dallin Howes | Luke Howes | Patrick Prasad William | Daniel Neilson | Shrikaanth B, CFA | Hessan Shah | John-Paul Roberts | Alan Butterfield | Justin Roberts

Private credit alarm bells 🔔 - blazing fire or burnt toast? ausbiz' Sue Lannin and Patrick Prasad William contrasts rising US credit defaults with the Australian private credit market. 𝗔. 𝗖𝗹𝗮𝗶𝗺𝘀 𝗼𝗳 𝘀𝘆𝘀𝘁𝗲𝗺𝗶𝗰 𝗿𝗶𝘀𝗸 - Systemic risk requires interlinking financing relationships a la banks - Credit funds are standalone capital pools - risk is siloed 𝗕. 𝗪𝗵𝗮𝘁 𝗶𝘀 𝗵𝗮𝗽𝗽𝗲𝗻𝗶𝗻𝗴 𝗶𝗻 𝘁𝗵𝗲 𝗨𝗦 𝗰𝗿𝗲𝗱𝗶𝘁 𝗺𝗮𝗿𝗸𝗲𝘁? - The US credit market has a materially higher risk profile - Dominated by credit vehicles called Business Development Corporations > BDCs lend at 4-7x EBITDA > BDCs are leveraged at 0.5-2.0x themselves - No surprise weakening economic conditions has seen rising defaults! 𝗖. 𝗪𝗵𝗮𝘁 𝗶𝘀 𝗵𝗮𝗽𝗽𝗲𝗻𝗶𝗻𝗴 𝗶𝗻 𝗔𝘂𝘀𝘁𝗿𝗮𝗹𝗶𝗮 𝗽𝗿𝗶𝘃𝗮𝘁𝗲 𝗰𝗿𝗲𝗱𝗶𝘁? - Fundamentally strong market with meaningfully lower risk appetite - Not perfect: > Disclosures require improvement - the regulator is on it > Over exposure to property development / construction 𝗗. 𝗦𝘂𝗴𝗴𝗲𝘀𝘁𝗶𝗼𝗻𝘀 𝗳𝗼𝗿 𝗶𝗻𝘃𝗲𝘀𝘁𝗼𝗿𝘀 - Read the IM / PDS - if details on risk and fees are sparse - beware! - Not all property development is the same - Toorak vs outer suburbs - Your fund manager is obliged to answer your questions - so ask! The video can be accessed here: https://lnkd.in/gkJP_iGn #ausbiz | Financial Standard | The Australian Financial Review | The Australian Financial Review | Capital Brief | ION Analytics | Debtwire | Financial Advice Association Australia (FAAA) Blair Murphy | Dallin Howes | Luke Howes | Daniel Neilson | Shrikaanth B, CFA | Hessan Shah | John-Paul Roberts | Alan Butterfield | Justin Roberts