QIC Private Debt Australia (QPDA) has closed four additional transactions since January totalling A$230 million, including a commitment to support Quadrant Private Equity’s acquisition of Herron Todd White (HTW).
HTW is Australia’s largest independent property valuation advisory group with more than 800 staff operating across 60 offices. The partnership saw Quadrant take a majority stake in HTW to support the business’ continuing growth and innovation strategy.
As the cornerstone lender, QIC’s commitment formed part of a senior secured loan across a five-year tenor.
The second transaction involves a senior secured loan to support further growth for Quadrant Private Equity’s investment in leading project management consultancy firm TSA Riley.
QPDA’s commitment through an accordion facility supported further M&A activities ahead of an exit.
QIC Head of Private Debt Australia Phil Miall said easing interest rates were supporting an increase in M&A and transaction volumes.
“The growth and diversification of Australia’s private credit market is enabling private debt investors to achieve scale in their allocations. We anticipate this momentum to build as borrowing costs moderate,”
Phil Miall - Head of Private Debt Australia, QIC
“Sponsors value execution certainty – fast transaction turnaround, and the reliability and robustness of an institutional platform,” Miall added.
“QPDA’s ability to meet these needs, coupled with increasing transaction activity, is resulting in strong capital deployment for our clients, having closed 12 transactions totalling over A$550 million in our first fund to date.”
QIC also closed a commitment as part of a broader senior secured loan to support the construction of a residential and commercial tower in Adelaide and supported a sponsor’s acquisition of a healthcare business.
Mr Miall said while market momentum was producing an abundance of opportunities, selectivity remained key.
“Capital stability is underpinned by our discerning selection of the most compelling investments, so success really comes down to discipline and governance in combination with strong origination.”
QIC Private Debt launched in 2021 and now has over A$2.1bn of assets under management (AUM) and committed capital, split across Private Debt Australia and Private Debt Infrastructure, with staff across four offices in Sydney, Brisbane, New York and London (as at 30 June 2025).
The QIC Private Debt team is led by Simon La Greca who joined QIC from Ares Management in December 2023.
For further information, please contact:
QIC Limited ACN 130 539 123 (“QIC”) is a wholesale funds manager, and its products and services are not directly available to, and this document may not be provided to any, retail clients. QIC is a company government owned corporation constituted under the Queensland Investment Corporation Act 1991 (QLD). QIC is also regulated by State Government legislation pertaining to government owned corporations in addition to the Corporations Act 2001 (Cth) (“Corporations Act”). QIC does not hold an Australian financial services (“AFS”) licence and certain provisions (including the financial product disclosure provisions) of the Corporations Act do not apply to QIC. Other wholly owned subsidiaries of QIC do hold AFS licences and are required to comply with relevant provisions of the Corporations Act. QIC also has wholly owned subsidiaries authorised, registered or licensed by the United Kingdom Financial Conduct Authority (“FCA”), the United States Securities and Exchange Commission (“SEC”) and the Korean Financial Services Commission. For more information about QIC, our approach, clients and regulatory framework, please refer to our website www.qic.com or contact us directly.
For more information about QIC, our approach, clients and regulatory framework, please refer to our website www.qic.com or contact us directly.
The statements and any opinions in this document (the “Information”) are of a general nature and for commentary purposes only and do not take into account any investor’s personal, financial or tax objectives, situation or needs. The Information is not intended to constitute and should not be relied on as personal legal or investment advice and it does not constitute, and should not be construed as, an offer to sell or solicitation of an offer to buy, securities or any other investment, investment management or advisory services.
QIC is a long-term specialist manager in alternatives offering infrastructure, real estate, private capital, private debt, natural capital, liquid strategies and multi-asset investments. It is one of the largest institutional investment managers in Australia, with ~A$125bn (~US$78bn) in funds under management1. QIC has over 900 employees and serves approximately 115 clients (as of Dec 31, 2024). Headquartered in Brisbane, Australia, QIC also has offices in Sydney, Melbourne, New York, San Francisco, London, and Singapore. For more information, please visit: www.qic.com