The onset of the Global Financial Crisis led to an immediate dislocation in global credit markets, and a structural shift in the Australian credit market. The result was a wide scale consolidation of Australian banks, leading to diminished competition.
Due to bank portfolio weighting concerns, this trend towards complete market dominance by the major four banks is now in reverse.
Bank lending is now constrained, yet the demand for CRE debt investment has not abated, nor the quality of Borrowers declined.
The founding partners of MaxCap were the first to recognise this market opportunity and sought Industry Fund partners to meet the demand for CRE debt.