Released 10 November 2026
This report summarises ASIC’s findings from our review of private credit funds offered to retail and wholesale investors, focused on private credit fund distribution, fee transparency, fund structures and conflicts.
It builds on Report 814 Private credit in Australia and Report 820 Private credit surveillance: retail and wholesale funds by examining how private credit funds are distributed to retail investors (including a review of financial advice) and how fund structures, fee arrangements and related-party relationships affect transparency, governance and investor outcomes for both retail and wholesale investors.