Metrics not aware of any ASIC probe: Bloomberg

The news: Metrics Credit Partners told Bloomberg that it is unaware of an ASIC probe into the company, after the outlet reported that the regulator had launched an investigation into the company’s loan valuations and governance practices.

The context: Per last week's report, the corporate watchdog is looking into the private credit manager over concerns which have emerged as part of a broader industry probe. While an ASIC spokesperson said that the commission is increasing surveillance of PE and private credit funds, it declined to comment on Metrics to Bloomberg specifically.

On Sunday, Metrics told Bloomberg that it “is not aware of any ASIC investigation related to specific practices or transactions in our business.”

“We operate with robust governance standards – this includes disclosing industry exposures, and detailed performance and portfolio risk settings provided regularly” to the ASX, Metrics said. “In relation to loan valuations, we use independent and highly experienced professionals to verify the market value and any potential impairment across our portfolio.”