Labassa Capital Credit Fund Update September 2025

On a 12-month rolling basis, the Fund achieved an investor return of 10.15% p.a. net of fees as of September 2025. Private credit pricing has compressed in the past 3 months corresponding to interest rate cuts and increased competition in the private markets. The LC Fund’s current return on a net of fees basis is considered strong as a private credit fund secured by registered mortgages on real estate. 

In the month of September, the Fund received full principal and interest repayment of a senior pre-development land facility in Mosman, NSW. The Fund has made three new first mortgage investments secured by established industrial warehouses and land with development potential in QLD and NSW. The Fund’s loan to value ratio at the portfolio level has decreased notably to 46.68%.  

Labassa Capital’s September pipeline value was $863m across 58 projects at an average facility value of $14.8 million. A number of deal opportunities were with existing Labassa borrowers, who have showcased project delivery capability through past performance.

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