Major Australian private lender suspends three ASX funds, cuts asset values after audit
KPMG’s audit led Metrics to give more weight to downside scenarios and raise loan-loss provisions, cutting net tangible asset values by up to 12.16%.
- Private credit giant Metrics Credit Partners placed three funds with a combined value of $3 billion in a trading halt on Monday after auditor KPMG disagreed with assumptions used in preliminary financial reports.
- KPMG cited "different decisions" regarding probability weightings, forcing markdowns of 12.16% at Metrics Real Estate Multi-Strategy Fund, 10.08% at Metrics Income Opportunities Trust, and 1.99% at Metrics Master Income Trust.
- Metrics attributed the adjustments to "interest-rate and macro-economic conditions and heightened regulatory expectations," stating that "greater weight was given to downside scenarios and less favourable potential outcomes."
- Following the $3 billion collapse of property developer Bathla, the private credit sector faces heightened scrutiny, though Metrics emphasized it has no exposure to the failed developer.
- Elsewhere on the ASX, the Index rose 0.2 per cent as oil hit $US106 amid Iran and Strait of Hormuz tensions, while Karoon Energy plunged 12 per cent after cutting 2026 production guidance.
11 Articles
11 Articles
Major Australian private lender suspends three ASX funds, cuts asset values after audit - Regional Media News
SYDNEY, Sept 28 (Reuters) - One of Australia's biggest private credit lenders suspended trading of three of its ASX-listed funds on Monday and said it would mark down their asset values after auditors disagreed with assumptions used in preliminary financial reports. Metrics Credit Partners, which [...]
Metrics Credit Partners, one of the largest players in the Australian private lending market, has recorded a write-down of about 169 million Australian dollars (119 million US dollars) in the value of three of its listed funds and suspended trading in them, Bloomberg reports.
Major Australian private lender suspends three ASX funds, cuts asset values after audit
SYDNEY, Sept 28 (Reuters) – One of Australia’s biggest private credit lenders suspended trading of three of its ASX-listed funds on Monday and said it would mark down their asset values after auditors disagreed with assumptions used in preliminary financial reports. Metrics Credit Partners, which manages around A$40 billion ($28.09 billion), halted trading in its Metrics Real Estate Multi-Strategy Fund, Metrics Income Opportunities Trust and M…
WA-exposed Metrics fund values slashed after delayed audit
Three Metrics funds have been suspended after a delayed audit triggered cuts in their reported value, months after the corporate watchdog warned investors could be relying on inflated private credit valuations.
Coverage Details
Bias Distribution
- 60% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
