Qualitas Real Estate Income Fund

As banks pull back, private credit is stepping in — funding non-bank lenders across niche sectors and driving a shift in Australia’s lending landscape.

Despite the recent flurry of headlines, private credit is a long established sector in Australia and Qualitas, founded in 2008, has a long-term perspective on the market.

There are concerns that private credit is a late cycle play drawing in unsophisticated money. Others argue the withdrawal of banks is bringing in non-bank players who understand the market. And private wealth funders.