Sydney-headquartered alternatives investment manager Salter Brothers has acquired Australian private credit fund manager Causeway Asset Management.
Causeway provides direct lending solutions to small-to-medium enterprises and middle-size corporates in Australia, with over A$600m (£287m) in funds under management and advice.
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“The integration of Causeway’s extensive track-record and Salter Brothers’ global platform is garnering significant interest,” said David O’Connor, managing director, debt capital markets at Salter Brothers, which has A$4bn in assets under management.
“We have already presented our combined capability to a number of our investment partners, who have expressed a desire to participate in this opportunity.”
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“In order to scale our participation in the Australian lower mid-market corporate sector which now totals in excess of A$500bn borrowing appetite, we felt it was timely to build on our foundation in private debt markets by teaming up with Salter Brothers who are also keen to grow their private credit business,” added Mike Davis, founding director of Causeway.
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