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.
