Jul 28, 2026 – 10.15amCenturia Capital, one of the largest ASX-listed real estate and private credit operators, could face a “wave of redemptions” as investors fret about its exposure to troubled property Sydney developer Bathla, with Morningstar analysts cutting their valuation of the company by $180 million.The Australian Financial Review reported earlier this month that the Centuria Bass Credit Fund, which invests about $268 million, had been labelled uninvestable by influential advisory firm SQM Research, which warned it may have breached its own rules when lending to Bathla.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Centuria credit fund faces ‘wave of redemptions’ over Bathla exposure
Researchers at Morningstar say the decision of an influential advisory firm to cut its rating will spook investors and could “spill over” to other funds.
TL;DRAI
Centuria Bass Credit Fund ($268M) faces redemptions; Morningstar cut valuation $180M, Bathla exposure triggers SQM Research uninvestable rating. Credit underwriting failures signal governance lapses relevant to risk teams assessing counterparty exposure in alternative credit arrangements.
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