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U.S. Private Equity Muscles In on Australia’s Home-Loan Market

  • Six charts show the shift toward more non-bank mortgages
  • KKR, Blackstone and Cerberus have bought non-bank lenders
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U.S. private equity giants are muscling in on Australia’s lucrative home loan business. Emily Cadman reports.(Source: Bloomberg)

U.S. private equity giants are muscling in on Australia’s lucrative home loan business, shrugging off the risks of a falling market to seize an opportunity created by the retreat of the big domestic lenders.

KKR & Co., Blackstone Group LP and Cerberus Capital Management LP have all snapped up small Australian mortgage lenders in the past 14 months, providing the heavyweight backing that has made non-bank lenders the fastest-growing source of new home loans this year.