Deerpath opens local office

Deerpath Capital Management is expanding its global footprint with the opening of a dedicated operation in Australia.

The firm will offer new vintages of closed-end credit funds to institutional investors, high net-worth individuals, and family offices.

Aso, Deerpath has appointed Ben Daly as director, head of investor relations for Australia and New Zealand.

Daly joins from Perpetual where he was director of institutional sales.

Previously, he had a similar role at T.Rowe Price.

Before that, Daly spent four years at Goldman Sachs four years as an investment specialist at ClearBridge Investments, and three years at Bankers Trust

Earlier in his career, he played professional rugby in the UK and Europe –  for teams in Scotland, England, Italy, and Wales.

Deerpath partner Tas Hasan said that while the credit provider has been active in Australia for many years, demand for is differentiated private credit solutions continue to accelerate.

“The global trend of commercial banks retreating from traditional lending segments, combined with recent regulatory changes associated with ‘Your Future Your Super’, provide an increased incentive for institutional investors to fill a funding void and harness the attractive risk and return characteristics of senior secured direct lending,” he said.

Hasan added: “Deerpath’s commitment to serving middle-market companies, combined with the firm’s safety-first investment philosophy, complements Australian institutional investors’ conservative approach to capital allocation.

“With rising inflationary and geopolitical risks present, the ability to access floating rate senior secured first-lien loans will also allow investors to mitigate such risks whilst still producing attractive risk-adjusted and stable returns.”

Globally, Deerpath has deployed more than $6.5 billion of capital across a broad range of investment products and transaction types.