These private capital dealmakers are watching house price, inflation and even second-hand boat sales as they look for signs of distress bargain hunters love.
It’s the question Australia’s bargain-loving private capital dealmakers are wrestling with: after 13 rate rises, where’s the distress in the economy?
“I think you’d have to say that the Australian economy is still very robust and we’re seeing strong demand. But you do keep a check on that.”Allegro, of course, is famous for some of the most complex turnarounds in the private equity sector, including Toll Global Express, SlaterBut Krynauw sees more opportunity coming. “We do think the next 12 to 24 months should be great investing opportunities from a bit more distress coming through.
For Peter Lyon-Mercado, partner at private equity firm Crescent Capital, inflation is the big indicator to watch; the house view is that it remains higher for longer, and the eventual pain from higher rates will hit the economy, creating bargains in the next couple of years.
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