The Gallantree Difference

A third way for Australian structured credit.

Banks price tightly, but lend narrowly, on standardised terms, to a narrow set of deals. Non-bank specialists flex on leverage and structure, at a meaningful premium to rate. Gallantree is built differently: institutional pricing discipline paired with the structuring agility of a specialist, delivered through proprietary infrastructure.

Metric

How each type of lender behaves across the dimensions that matter to borrowers and sponsors.

Category I

Major Banks

Large balance-sheet lenders. Standardised credit policy, regulated capital constraints.

Category II

Non-Bank Specialists

Fund-backed private credit. Discretionary capital, bespoke structuring case-by-case.

A Third Category

Gallantree

Structured credit infrastructure. Institutional-grade programs, purpose-built for Australia.

01 · Pricing

Coupon / Rate

Where the loan prices relative to the broader market.

Tight

Tightest pricing

Low coupons backed by deposit funding, available only for deals that fit a narrow credit box.

Premium

Meaningful premium

Returns-driven funds price for fund IRRs; margin well above bank senior debt.

Priced to risk

Institutional pricing, tranched to risk

A CLO-style capital stack delivers pricing that closes most of the gap to banks, without a bank credit box.

02 · Leverage

Maximum LVR

How much of the asset value the lender is willing to fund.

Conservative

Conservative caps

Regulatory capital rules and internal policy cap LVRs well below deal economics.

Generous

Higher LVRs available

Willing to move up the capital stack, including mezzanine and stretch senior.

Program led

Structured to deal merits

LVR calibrated at the program level. The test is what institutional capital will support, not what a single policy dictates.

03 · Capital stack

Total Gearing

How much overall leverage the lender can put behind a transaction or portfolio.

Capped

Capped by policy

Total gearing bounded by risk-weighted capital rules; limited appetite for junior tranches.

Elevated

Elevated but deal-by-deal

Higher overall gearing available, but terms reset with each transaction and each fund vintage.

Engineered

Engineered at the program level

A full capital stack, senior through equity, built once and reused across transactions.

04 · Structuring

Covenants & Structure

How flexible and bespoke the terms of the loan can be.

Standardised

Standardised templates

Covenant packages are largely fixed; negotiation limited to the margins.

Bespoke

Bespoke per deal

Highly flexible, but structured ad hoc, with documentation, reporting, and monitoring rebuilt each time.

Repeatable

Flexible, but repeatable

Bespoke structuring delivered through standardised, institutional-grade documentation and reporting frameworks.

05 · Execution

Speed to Approval

How quickly a committed, structured term sheet can be delivered.

Slow

Long credit process

Committee layers, policy checks, and regulatory overhead lengthen every timeline.

Variable

Fast, but variable

Decisions can move quickly when a fund is deploying, or stall when capital windows tighten.

Predictable

Tech-enabled, predictable

Proprietary infrastructure shortens credit, structuring, and documentation cycles on every transaction.

Institutional pricing discipline

Programs are capitalised by global institutional investors, not depositors or fund LPs chasing equity-like returns. The cost of capital shows up in the coupon.

II.

Specialist structuring agility

Credit expertise combined with tailored capital stacks means deals get structured to their merits, rather than being forced into a policy template or a fund mandate.

III.

Proprietary infrastructure

Origination, structuring, treasury, and investor reporting run on one purpose-built platform. That is the reason pricing, flexibility, and execution can coexist.

Gallantree · Empowering CapitalComparisons are illustrative and reflect general market positioning

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