Updated Sep 7, 2026 – 1.33pm, first published at 12.45pmBig private credit firms that are flush with funding and have avoided a string of poor investments that are destabilising the industry could benefit from the collapse of Sydney development giant Bathla, according to an HMC Capital executive, who says loan returns will rise even if risks remain unchanged.HMC chief operating officer Victoria Hardie said the David Di Pilla-run alternative asset manager had passed over opportunities to lend to Bathla, which collapsed last month owing more than $3.4 billion, largely to private credit funds, despite the company offering significant returns.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Bathla ‘an opportunity’ for high-quality private credit funds: HMC
The alternative investment giant and another firm, Qualitas, both said they declined opportunities to lend to the now-collapsed Sydney property developer.
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