[+] MaxCap Deal Puts Big Four in Sights

One of the world’s largest investors, Apollo Global Management, has just purchased a 50 per cent stake in Australian non-bank lender MaxCap.

The deal has been described as a “gamechanger” for the Australian real estate credit market with the lender predicted to now compete head-on with the big four banks.

In this TUD+ Briefing, MaxCap co-founder Brae Sokolski explains why it ushers in a new era for real estate credit in Australia.

Sokolski said the deal could be seen as the “end of the beginning”—after the macroprudential changes to the industry post the banking royal commission.

“The tectonic shift from banks to non-banks has really manifested itself in a genuine push to compete against the big four,” he said.

“It shows we are no longer comfortable with swallowing up the share that the banks can’t provide from themselves.

“That’s what this transaction is all about, why it is a gamechanger—it is genuinely about us saying, ‘well, were not satisfied with the market share in the non-bank space, we want to be there to compete with the four majors’.”

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Article originally posted at: https://www.theurbandeveloper.com/articles/apollo-max-cap-deal-non-bank-lenders