Australian Broker Spotlight: Andrew Torrington on navigating the private credit boom and understanding the market can help brokers cash in

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Navigating Australia’s fast-growing private credit market requires more than instinct;  it demands insight.

Once considered a niche player, private credit has emerged as a major market in its own right. Globally, it’s valued at roughly $1.7 trillion USD, encompassing fewer regulations and direct loans from non-bank institutions to businesses. In Australia, private credit assets under management surpassed $200 billion AUD by the end of 2024, up from $188 billion the year before.

“The opportunity for brokers is strong,” Andrew Torrington, co-founder, managing director and chief investment officer at Melbourne-based private credit firm Woodbridge Capital, told Australian Broker. “But only if they align with lenders who are disciplined, transparent and genuinely capital-backed. This is not about chasing the cheapest rate. It’s about partnering with lenders who can execute, manage risk properly and be there through the full life of a loan.”

In Australian Brokers’ latest Spotlight Series — which highlights standout players in Australia’s loan and finance sectors — Torrington shared his insights on the evolving private credit landscape, the importance of transparency, disciplined lending and the opportunities it presents for both brokers and lenders.

The following interview has been edited for grammar and clarity.

AB: Tell us about yourself. What is your background? And how did you get into Australia’s finance industry?
AT: I’m a little different to most lenders, because I’ve spent the majority of my career in the construction industry. I’ve been a developer, a builder, a subcontractor and now a lender. So I’ve seen projects from almost every angle. That background gives me a practical perspective when lending to developers, because I understand how projects actually get delivered on the ground.

Lending may sit higher up the food chain, but it’s also one of the most satisfying roles, because you’re helping bring projects to life. Having worked across the industry, I try to approach lending with both discipline and real-world understanding.

AB: What is the secret to your success? Why do you think you’ve been successful in the industry? And what can competitors learn from you?
AT: From a borrower’s perspective, success comes down to certainty. We’ve been successful because we’re clear on what we can and can’t do, and we don’t shift the goalposts mid-process. Borrowers value lenders who understand their asset, their timeline and their constraints, and who can execute consistently.

Competitors can learn that flexibility doesn’t mean lack of discipline. In fact, the most reliable outcomes come from lenders who are structured, decisive and transparent. Borrowers don’t want surprises; they want solutions that hold together under pressure.

AB: What are your thoughts on Australia’s rapidly-expanding private credit market? How can brokers capitalise off the growing sector? And what do they need to know?
AT: Private credit is expanding because borrowers need faster decisions and more nuanced structures than banks can offer. For borrowers, this is positive. But it also means understanding who you’re dealing with. Not all private lenders have the same capital stability, governance or execution capability.

The opportunity for brokers is strong. But only if they align with lenders who are disciplined, transparent and genuinely capital-backed. This is not about chasing the cheapest rate. It’s about partnering with lenders who can execute, manage risk properly and be there through the full life of a loan.

AB: Talk to us about transparency in private credit. Why is this important?
AT: Transparency is critical for borrowers because it directly affects certainty and trust. Borrowers need to know how decisions are made, how valuations are assessed and what happens if conditions change. A transparent lender sets expectations early and sticks to them. That reduces stress, delays and last-minute renegotiations.

In private credit — where speed and discretion are often key — transparency ensures borrowers aren’t exposed to unexpected outcomes later in the loan term. Ultimately, transparency protects borrowers just as much as it protects capital.

AB: You’ve used the term “disciplined private credit.” What does that mean? And how can brokers use it to their advantage?
AT: For borrowers, disciplined private credit means clarity, consistency and reliability. It means the lender underwrites the deal properly upfront, rather than relying on renegotiation later. While disciplined lenders may say no more often, when they say yes, borrowers can have confidence the deal will proceed as agreed.

That discipline allows borrowers to plan with certainty, manage stakeholders and execute their business strategy without distraction. In volatile markets, disciplined lenders are often the most flexible because their structures are built to withstand change.

AB: What questions should brokers be asking private lenders?
AT: Borrowers should ask: Who controls the capital? How quickly can you make decisions? What flexibility exists if circumstances change?

Pricing is important. But certainty of execution is often more valuable. A lender that communicates clearly and has a track record of working constructively with borrowers during challenges can be the difference between a smooth transaction and a disruptive one. If the responses are vague or defensive, that’s telling. Strong lenders welcome scrutiny, because they have nothing to hide.