Financial services

Fashion brands, religious groups, pie shops, charities and RSL clubs are parking millions of dollars in private credit vehicles run by the market's biggest managers.

With one day left in the financial year, CBA shares are up a staggering 50%, pushing its market cap above $300 billion. But fundies aren't so enthusiastic about it.

While all eyes are on Virgin, another new listing on the ASX this week will push the amount raised by private credit funds beyond $1 billion. And there's more to come.

Woodbridge co-founder Andrew Torrington says Metrics was "smashed" over Rockpool, despite providing the kind of transparency regulators want from private credit funds.