I speak with Brett Craig, Director of Private Credit at Aura Credit Holdings, about how Aura structures its private credit portfolios with multiple layers of protection aimed at preserving investors’ capital. Brett explains how this begins with selecting quality Australian businesses, rigorous credit assessment and tangible loan security, before adding further protection through lender equity that sits below Aura’s investment in the capital structure.

We also discuss the role of diversification across thousands of underlying loans, short loan durations of typically three to five months, and independent monthly risk assessments by Open Analytics. Together, these measures are designed to manage risk across the portfolio and provide multiple avenues of protection should a borrower experience financial difficulty.

Learn more about private credit. 

Alternatively, you can speak with David Buckland or Rhodri Taylor here at Montgomery on (02) 8046 5000. Continue…

by Scott Phillips Posted in Aura Group, Editor's Pick, Insightful Insights, Investing Education, Video Insights.

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In recent days, we have seen three ASX listed companies receive offers by private equity, and in each case, it appears their ownership will likely head overseas. 

I Squared Capital

New York based “Sophisticated and long-term infrastructure investor”, I Squared Capital has bid $1.70 per share for oOh!media Limited (ASX: OML), thus valuing the company at over $1.0 billion in Enterprise Value (EV), including the $130 million of net debt as at June 2026. Continue…

by David Buckland Posted in Companies, Economics, Global markets, Insightful Insights, Market commentary, Market Valuation.

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While the debate continues over whether the artificial intelligence (AI) thematic is a bubble, the S&P 500 and the Nasdaq continue to climb a wall of worry. You’d think this would cause at least some of the AI sceptics to throw in the towel, but if anything, it has reinforced their resolve and reinforced their scepticism.

One of the most vocal is English author and tech columnist Ed Zitron.

In a recent interview with Adam Taggart, Zitron dismantled the core promises of the AI boom, suggesting current Large Language Models (LLMs) are an unsustainable, highly subsidised circular economy that fails to solve basic business problems. He also highlights immediate balance sheet pressures, and extreme market concentration. Continue…

by Roger Montgomery Posted in Manufacturing, Market commentary, Technology & Telecommunications.

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I speak with Brett Craig, Director of Private Credit at Aura Credit Holdings, about how independent credit analysis can help investors and advisers better understand and compare risk across private credit portfolios.

Brett explains how Aura works with Open Analytics to independently assess its portfolios each month using bank-grade credit risk methodologies. The analysis considers every underlying loan, incorporates changing economic conditions and runs one million Monte Carlo simulations to assess expected credit losses and portfolio resilience. The resulting S&P-equivalent credit ratings provide advisers and investors with an additional, objective tool to support due diligence and understand the underlying risk within Aura’s private credit portfolios.

Learn more about private credit. 

Alternatively, you can speak with David Buckland or Rhodri Taylor here at Montgomery on (02) 8046 5000. Continue…

by Scott Phillips Posted in Aura Group, Editor's Pick, Popular, Video Insights.

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I speak with Brett Craig, Director of Private Credit at Aura Credit Holdings, about the key differences between the Australian and U.S. private credit markets, and why the risks making headlines overseas may not necessarily translate directly to Australia. We discuss how differences in borrowers, lending structures, loan duration, asset security and legal frameworks can result in very different risk profiles.

We also explore Aura Private Credit’s approach, including its focus on established businesses, asset-backed lending, shorter-duration loans and portfolio diversification. Brett explains why understanding how a manager generates returns, manages liquidity and protects against potential losses can be more important than simply comparing headline yields.

Learn more about private credit. 

Alternatively, you can speak with David Buckland or Rhodri Taylor here at Montgomery on (02) 8046 5000. Continue…

by Scott Phillips Posted in Aura Group, Editor's Pick, Insightful Insights, Investing Education, Popular, Video Insights.

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Despite the utterings from our senior politicians when discussing Australia’s Gross Domestic Product (GDP), this figure takes neither the rate of inflation, nor our population growth into consideration.

When our real GDP per capita for the June 2026 Quarter is released on Wednesday 2 September, I am concerned we will see another negative number, delivering lower living standards for Australians, as experienced over recent years. Continue…

by David Buckland Posted in Companies, Editor's Pick, Market commentary, Market Valuation.

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It’s the question on every investor’s mind: are the hyperscalers spending too much on their infrastructure buildout such that they won’t generate a satisfactory return on capital?

Investors are furiously debating whether the Hyperscalers are overspending.

Recently, ‘Lloyd’ commented on a Livewire blog post about the subject, stating the following: Continue…

by Roger Montgomery Posted in Market commentary, Technology & Telecommunications.

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How much do the artificial intelligence (AI) hyperscalers’ businesses need to make from selling their AI tools in order to generate a decent return?

The debate surrounding the Return on Invested Capital (ROIC) for big tech’s massive AI infrastructure expansion revolves around a core question: How much end-user revenue is required to cover hardware depreciation, energy costs, and capital costs?

With hyperscaler capital expenditure (capex) on track to surpass US$600 billion- $800 billion annually, several prominent analysts, venture capital firms, and investment banks have published frameworks and scenarios to quantify the revenue needed for a reasonable return.

Here are a handful. You can decide whether the targets are likely to be met. Continue…

by Roger Montgomery Posted in Economics, Investing Education, Manufacturing, Market commentary, Market Valuation, Technology & Telecommunications.

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