HMC Capital

As debate continues over whether private credit is a bubble destined to burst, JPMorgan and ASX-listed HMC Capital are betting that the boom is just getting started.

Fund manager Allan Gray has called for the property giant to cull 75% of its corporate staff and shutter its Americas, Asia and Europe developments as part of an ongoing activist campaign.

Behind the headline stories that emerged from Macquarie’s investment conference, there were a string of telling moments that were easy to miss.