B. MOSES ASSET MANAGEMENT

Private Credit Deal Structure

High-yield private credit opportunities to diversify your portfolio and ensure consistent cash flow and income.

We have created a unique platform to connect wholesale investors with attractive private credit opportunities that are focused on servicing commercial Australian-based SMEs.

Unmatched Opportunities And Performance For The High Net Worth, Wholesale Investors and SME clients.

About BMAM & Portica Securities’ Private Credit Opportunities:

At BMAM, we have established a strong track record in originating and executing highly commercial transactions in the SME market, offering attractive return opportunities to investors.

Through our private debt platform with Portica, we provide funding solutions for SMEs, supporting capital raise activities, equipment finance, property acquisitions, short-term finance, and property development projects across residential and commercial real estate.

BMAM and Portica have assembled a highly experienced network of credit underwriters and collateral managers and have access to an extensive network of professional advisors in valuation, legal, and accounting firms.

We have developed a robust debt selection and approval process, ensuring that funding is only advanced to borrowers with solid experience in their respective markets and for viable projects. For every transaction, our primary goal is to preserve capital through rigorous risk assessment and management while maximising investment returns.

About BMAM’s Portica Private Debt Fund and Portica Securities, our Commercial Lending Arm:

B. Moses Asset Management’s ‘Portica Private Debt Fund‘ is structured to accept investments from wholesale and high-net-worth (HNW) investors. Through our commercial lending arm, Portica Securities, we facilitate and manage commercial loans to borrowers for business or investment purposes. Borrowers are obligated to repay the principal along with interest and costs.

Investors earn income from their capital through monthly or semi-annual distributions, funded by interest payments made by small and medium-sized enterprise (SME) borrowers. Upon maturity of the private debt, the loan balance is repaid, mortgages are discharged, and investment capital is returned to the Fund or investors under a syndicate co-investment structure. Syndicate co-investors can then reallocate funds into different investments at their discretion.

Each loan financed by Portica is referred to as a ‘Sub-Fund’ and is accompanied by a Sub-Fund Information Memorandum (SIM). The Fund offers both Senior and Mezzanine Loans:

  • Senior Loans: Secured by a registered first mortgage over real property provided by either the borrowers and/or guarantors of the loan.
  • Mezzanine Loans: Secured by a registered second mortgage over real property provided by either the borrowers and/or guarantors of the loan.
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To manage the risk of default, we secure our loans with collateral from our commercial Borrowers and/or guarantors. In case of default, BMAM and our Investors are expected to be repaid from the sale proceeds of the security property and/or enforcement against the Commerical Borrowers and Guarantors.

Loan Notes

Terms

Security

Indicative Yield

Description

Series A

Floating Rate

1st Mortgage

7.5% to 9.5%

Floating rate notes

Series B

Fixed Rate – 3-year lockup+2-year extension determined by BMAM

1st Mortgage

7.5% to 9.5%

Fixed term of 3-year lockup then an extension of up to 2 years determined by BMAM.

Series C

Fixed Rate – 3-year lockup+2-year extension determined by BMAM

2nd Mortgage

12.0% to 14.0%

Fixed term of 3-year lockup then an extension of up to 2 years determined by BMAM

Series D

Fixed & Floating Rate3-year lockup+2-year extension determined by BMAM

Unsecured – Loans

(No credit Enhancement)

15.0% to 17.0%

Fixed term of 3-year lockup then an extension of up to 2 years determined by BMAM

The net distribution return starts from 7.5%, 12% and 15% per annum (this rate is dependent on the particular Series and Sub- Fund and disclosed in the Fund’s Information Memorandum and the relevant SIM).

The frequency of distribution is semi-annually deposits into your nominated bank account.

Investing via the PPD Fund:

The investment period is three (3) years with an Investment Manager right to extend the period by another two (2) years. The Fund does not offer any redemptions prior to maturity. Investments are locked-up for a period of three (3) years. No liquidity arrangements are in place for early redemptions of the capital investment.

Investing Via Syndicate Co-Investors Deed:

Debt investments are illiquid. However, under syndicate private credit investments, the capital is repaid to the syndicate investors at the set redemption date. Loan terms can be a full 12 months or 24 months.

PPD Fund’s debt investments are generally secured by registered first or second mortgages over real property in Australia. Independent valuations are obtained for Security Properties on each loan.

The Portica Private Debt Fund strategy appeals to investors seeking high-yield fixed-interest returns or exposure to alternative credit types, as well as those interested in property-secured investments without direct property ownership. Consult with us or your financial adviser to explore how we can assist you with your investment objectives.

The minimum initial investment in Loan Notes issued by the Fund is $500,000 or $50,000 and requires a Wholesale Investor Certificate.

At our discretion, we may accept an initial investment amount lower than $500,000 or $50,000 where subsequent additional investments ensure the minimum balance is equal to or greater than $50,000 in the Face Value of a Series of Loan Notes within 90 days on the initial investment.

 Subsequent additional investments require a minimum amount of $10,000.

Also, we reserve the right to lower the minimum initial investment at our discretion. Indirect investors should refer to their investor platform operator’s offer document for information on minimum initial and additional investment amounts.

Please refer to our most current information memorandum (IM) document:

Management Fee: Nil

Indirect Cost: A 1.5% per annum, paid by Investors semi-annually. This fee covers fund administration, asset management, security trust, registry, and other services. However, the Fund rebates this fee in full, covering it with the returns generated from our Borrowers.

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