REAL estate non-bank lender and investment manager, Centuria Bass Credit, has appointed experienced financier, Lachlan Tracey, as managing director – head of capital markets & co-head of execution.
Tracey has 25 years’ experience across investment and international financial markets. He will join Centuria Bass’ executive team in its Sydney office, and support distribution and funding activities across the business. He will also co-head the loan execution and management team, overseeing the execution and portfolio management of transactions.
Tracey’s more recently held positions include Citi, head of acquisition, leveraged & syndicated finance, Australia & NZ; BNP Paribas, head of acquisition & leveraged finance, Australia; and UBS, head of leveraged finance, Australasia.
Tracey also held senior positions within the UK and the United States at major institutions including RBS, Merrill Lynch and Bankers Trust.
“We warmly welcome Lachlan to the Centuria Bass fold. He brings significant experience across debt origination, structuring and underwriting, credit risk, loan portfolio management, capital markets and loan syndications,” said Centuria Bass joint CEOs, Giles Borten and Nick Goh.
“Lachlan’s exposure to international markets, where non-bank finance has a considerable market share, will also be of great benefit to our company. The Australian market is still in its infancy for private credit, but we have significant potential to grow in the near term given that traditional banking institutions have tightened their lending criteria at a time when developers need to deliver more homes to meet the housing crisis.”
Over seven and a half years, Centuria Bass Credit has delivered returns on secured private credit loans averaging over 11.8% per annum return, with no losses of principal or interest to investors on any of its 120-plus investments. It has over $1.5 billion in funds under management.
