A former New South Wales premier and a previous executive at Commonwealth Bank have joined forces to launch a new institutional corporate credit fund, Colter Bay Capital.
Former premier Nick Greiner has launched the Australian fund with Mark Wang, former head of private capital markets at Commonwealth Bank, with the purpose of delivering needed liquidity to help grow Australia’s corporate lower middle market, the company said in a statement on LinkedIn.
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The fund provides senior secured financing to established businesses generating AUD$3M-$20M (£1.58m-£10.5m) EBITDA, the company said on its website. It is targeting attractive risk-adjusted income through disciplined senior secured lending with genuine manager alignment.
“We combine institutional-grade credit discipline with genuine manager alignment — with a focus on capital protection and attractive risk-adjusted returns,” it said.
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The fund has a AUD$100M liquidity facility in place with a leading institutional asset manager to support portfolio management and investor liquidity.
