Liquidity is reshaping risk and return and investors need to be selective

Read the There was no shortage of high-level corporate bust-ups last year in Australia and globally. The high-profile collapses of US-based companies First Brands and Tricolour shook the private credit sector globally, while on the home front, there was enough going on for regulator ASIC to shine a light on Australia's own private credit practices. And just like a kiss-cam at a Coldplay concert, it did not like what it saw. At the end of last year, ASIC issued its response and recommendations following that review. Livewire sat down with Alex Hone, Managing Partner of Keyview Financial Group, to discuss what the findings mean for the sector, what changes are ahead in 2026, and how Keyview is positioning itself to make the most of the opportunities. This interview was filmed 12th February, 2026. Read the interview summary here: https://bit.ly/3OFZA3X Timecodes: 00:03 - Intro 00:25 - Overview of private credit landscape leading up to ASIC's review 01:23 - ASIC's areas of concern 02:01 - What best practice looks like 03:00 - New regulations? 04:12 - How Keyview is structured 05:45 - The forces that will drive private credit in 2026 07:09 - Opportunistic lending - Keyview's edge 08:30 - Speed, complexity and structure of lending 11:09 - Biggest risks 12:26 - What investors need to monitor looking ahead