Private Credit Spotlight – 2025 Themes and 2026 Outlook

Taline Chater, Rob Murphy and John Moutsopoulos of Mills Oakley report that Australia’s $200 billion private credit sector, now a central player in mid-market restructurings, is entering 2026 under heightened ASIC scrutiny and rising credit risk after high profile real estate collapses, increased use of consensual liability management exercises, and emerging loan-to-own strategies, which have highlighted weaknesses in documentation, governance and enforcement cost pressures that insolvency practitioners should expect to see play out more frequently in formal appointments.

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