Scarcity formally snaps up Dinimus stake in private credit play
The investment group run by four ex-Pinnacle execs has closed its second ever investment, buying up a minority stake in Dinimus.
Sydney 'GP staking' firm Scarcity Partners has officially joined the stampede into the booming private credit sector after securing an equity stake in non-bank funder Dinimus Capital for an undisclosed sum.
Scarcity – which was started by former Pinnacle director Adrian Whittingham and COO Alex Ihlenfeldt last year – took a 35% minority position in the corporate debt issuer to conclude nine months of discussions, and after running the ruler over more than 50 private credit outfits.
"If the guys do a great job for their investors, there is the opportunity to grow the firm to $3 billion or a little bit more,” Whittingham said. “They'll have the next generation of talent coming through, and that would be a fantastic private lending business in this marketplace.”
Dinimus, also based in Sydney, was launched in 2010 with the backing of Macquarie and Al Gore-chaired Generation Investment Management. Today it manages $214 million across two funds for wholesale clients, cutting asset-backed $5 million to $50 million loans to mid-market corporates.
