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First mortgage, second mortgage and mezzanine: what your ranking actually buys you
-Every private credit fund calls itself secured. Your place in the capital stack decides who is repaid first when a development loan goes sour.
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What happened to Bathla? Who’s to blame, who’s exposed, and what it means for Australian investors
-The Bathla Group collapse has around 40 private credit funds repricing their loan books. What it means for Australian investors holding credit products.





